Key Points:
- The White House Crypto Summit will take place on Friday with a speech by President Donald Trump at 3 PM EST.
- Trump previously hinted that the crypto reserve could include Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA) in the future.
The White House is set to host a groundbreaking Crypto Summit on Friday, marking a pivotal moment in U.S. digital asset strategy.
The White House Crypto Summit follows President Donald Trump‘s signing of executive orders establishing a Strategic Bitcoin Reserve, a move designed to promote the federal government’s approach to cryptocurrency holdings.
Trump Will Sign Executive Orders Ahead of the White House Crypto Summit
According to reports, Trump will sign the orders at 2:30 p.m. ET, just ahead of the summit’s official start at 3 p.m.
The recent order sees the Treasury Department create an office to oversee the reserve, primarily funded by Bitcoin (BTC) seized through criminal and civil asset forfeiture cases. It marks a departure from past practices, where the government auctioned off confiscated cryptocurrency, often missing out on significant appreciation in value.
David Sacks, President Trump’s AI and crypto advisor, estimated that past sell-offs may have cost taxpayers up to $17 billion.
Sacks is expected to lead discussions at the White House Crypto Summit. Industry leaders and members of Trump’s crypto task force will also be in attendance.
Alongside Sacks, key regulatory figures such as Mark Uyeda, acting chair of the SEC, and Caroline Pham, acting chair of the CFTC, are expected to outline a regulatory framework to protect investors. Bo Hines, executive director of the President’s Working Group on Digital Assets, will facilitate the dialogue to develop policy strategies for digital assets.
Industry Awaits Further Details on U.S. Strategic Bitcoin Reserve
With a change in vision, the White House has described Bitcoin as “digital gold,” showed the strategic importance of being among the first nations to establish a Bitcoin reserve. The administration’s approach contrasts with that of the previous Biden administration, which maintained a stricter regulatory stance on digital assets.
Meanwhile, cryptocurrency markets have reacted to the news, with Bitcoin rebounding slightly but remaining below the $90,000 mark.
Additionally, Trump’s World Liberty Financial has reportedly made significant crypto acquisitions ahead of the summit, including $10 million each in ETH and wrapped Bitcoin (wBTC), along with $1.5 million in MOVE, according to blockchain analytics firm Nansen.
The summit aims to outline the federal government’s vision for cryptocurrency, including potential expansion of the reserve to include assets such as Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA), as Trump hinted on social media earlier this week.
The crypto world is hoping the summit will help them get closer to getting what they want from the Republican-led Trump administration, bringing stability to a market that has struggled to regain momentum following Donald Trump’s election victory.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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