Trump’s Crypto Summit causes little frustration in the community

Donald Trump’s much-awaited White House crypto summit has disappointed the crypto space. The promise was overwhelming and the community was underrated. Bitcoin prices have fallen slightly in place of the expected jump.

Crypto executives deployed in several Trump praised the president’s attempts to cut federal regulators, suggesting that the industry was “destined” without his intervention. Still, this frustration still doesn’t spurt into full division.

Trump’s Crypto Summit failed delivery

Donald Trump announced the first ever White House Script Summit last week, with the community hoping for a positive new regulation opportunity.

Specific policy ideas and potential guest lists were heatedly discussed, and the predicted bubble helped fuel the token price pump. Today, the long-awaited summit finally happened.

“Welcome to my first White House Digital Assets Summit. I know that many of you have fought for this for years, and being here with you is an honor. Last year, I promised to make America the world’s Bitcoin capital…and we are taking historic actions to fulfill that promise,” Trump insisted.

But the most bullish expectations of Trump and the Crypto Summit quickly fell. He briefly explained the cryptographic protected area plan, greatly suggesting that FIFA could help launch tokens, and postponed the timetable for friendly regulations to become law.

Most often, crypto executives praised him as the industry’s savior, causing backlash.

“That summit was the most embarrassing thing I’ve ever witnessed. Is this really what we came? Is everyone just worshiping Trump? Meanwhile, he doesn’t know what he’s reading and just riffs on what David Sachs wrote to him. We used to be cypherpunks, and we were previously anti-government, but now we want prices to go up,” claims popular NFT trader Clemente.

Excessive respect causes pushback

Specifically, the Crypto Summit aired only lasted just over 20 minutes, but most of it was not involved in Trump himself speaking.

Several close allies, such as Coinbase CEO Brian Armstrong, have overly praised the president’s attempts to cut down the SEC and other regulators. They suggested that Trump saved the industry from excessive enforcement under Gary Gensler.

This extreme attitude towards Trump towards a substantive lack of promises was a result of the overall negative impression.

By suggesting that the industry is “destined” without Trump’s help, these executives ignore the strength, resilience and innovative spirit of their communities. Isn’t it surprising that Bitcoin prices have since falled?

Participants at Trump’s Crypto Summit praised his attempts to completely attempt Defán’s financial regulator. This has already caused unprecedented confusion within the federal government.

Participants at several summits, such as Cameron Winklevoss, would like to take this agenda further.

“The Crypto Summit is a dishonorable. It’s the embarrassment of the people. The crypto fact that captured the White House is exactly what our founder father warned us. It will be the glight of what Trump’s left behind that legacy will earn a low point for the presidency and America,” wrote financial commentator and crypto critic Peter Schiff.

Ultimately, this code summit doesn’t seem to sink a true break between Trump and the community overnight. People are dissatisfied and true, but some may still benefit.

Armstrong, for example, has already announced that Coinbase will hire an additional 1,000 employees. This surrounding frustration boils down to real economic losses.

But overall, the summit remained largely overwhelming. It provided no significant positive development signals to industries outside the US market.