The inaugural “crypto summit” held at the White House on Friday brought together industry leaders to discuss the Trump administration’s efforts towards regulatory clarity in the cryptocurrency space. Ripple CEO Brad Garlinghouse was among the attendees, expressing his satisfaction with the administration’s support for the industry.
Garlinghouse commended President Trump and Crypto Czar David Sacks for their dedication to discussing regulatory frameworks for digital currencies, describing the weeks of discussions as feeling like months. He emphasized the importance of collaboration within the industry and advocated for a level playing field, urging entities to work together instead of pitting one coin against another.
The CEO thanked President Trump, Crypto Czar David Sacks, White House’s Executive Director of the Council of Advisers on Digital Assets Bo Hines, and CFTC Commissioner Caroline Pham for hosting the historic summit. He highlighted the need for the industry to unite in pushing for much-needed legislation in the US.
Following the summit, industry leaders and administration officials praised President Trump’s approach to digital assets. David Sacks, who is leading the administration’s crypto policy efforts, commended the president for his commitment to advancing the digital asset industry. Trump signed an executive order instructing the Treasury and Commerce Departments to develop budget-neutral strategies for accumulating Bitcoin and other digital assets into a national strategic reserve.
In a message to the crypto community, President Trump emphasized the importance of holding onto Bitcoin, echoing his sentiments from the Nashville Bitcoin conference in 2024. Industry leaders welcomed the administration’s policies, with many criticizing the regulatory crackdowns under the Biden administration for stifling innovation and unfairly targeting digital currency businesses.
Despite the positive reception from industry leaders, the Washington crypto meeting did not have a significant impact on Bitcoin’s price, which was down 2% in the last day. However, the overall sentiment was one of optimism and support for the administration’s efforts in the cryptocurrency space.
Overall, the first-ever “crypto summit” at the White House marked a significant milestone in the industry, with industry leaders and officials coming together to discuss regulatory clarity and support for digital assets. The administration’s commitment to advancing the sector was met with enthusiasm and praise from key figures in the crypto community.