I. Summit Background: From 'Advisory Committee' to 'Crypto Davos'
1. Trump's 'Crypto Flip-Flop'
The originally planned 'Crypto Advisory Committee' composed of 24 industry leaders has been aborted, replaced by the White House summit on March 7. The birth of this 'crypto Davos' is essentially a regulatory arbitrage game by the Trump team: it is both courting the crypto industry for political donations (Coinbase, Crypto.com, etc. have already donated millions of dollars) and creating market expectations through the concept of 'strategic reserves' to build momentum for re-election.
2. The 'Fort Knox' Fantasy of Strategic Reserves
Trump claims he wants to include BTC, ETH, XRP, SOL, ADA in the 'Cryptocurrency Strategic Reserves,' but there are no details—this is akin to selling swimsuits in the desert, promising 'there will be a sea in the future.' If it were to truly come to fruition, the U.S. government would need to spend hundreds of billions to acquire tokens from the market, but the Treasury's account balance is only $800 billion and still has to deal with the trade war and infrastructure plans. The so-called reserves are likely just empty promises.
II. Attendee List: The Revolving Door of Power and Interests
1. The 'Symbiotic Relationship' between Politicians and Giants
Brad Garlinghouse (Ripple CEO): XRP has been designated for reserves, but the lawsuit between Ripple and the SEC has just been dismissed—clearly, the Trump administration is extending an olive branch to 'compliance surrenderers.'
Charles Hoskinson (Cardano founder): The logic behind ADA being selected for reserves is puzzling, as its on-chain daily activity is only 1/50 of Ethereum's, but Hoskinson's 'Washington lobbying tour' has evidently been effective.
Brian Armstrong (Coinbase CEO): Coinbase is a major donor to Trump’s campaign, and this summit may promote its 'regulatory moat' plan—driving competitors to death under compliance costs.
2. The 'Dollar Hegemony' Ambition of Stablecoins
Circle CEO Jeremy Allaire will undoubtedly attend, and if USDC is included in the 'Digital Dollar Expansion Plan,' it will become an invisible tool for the Federal Reserve to harvest globally. The Trump team has hinted that 'stablecoins are key to the internationalization of the dollar,' which implicitly acknowledges the gray hegemony of Tether (USDT).
III. Strategic Reserves: Open Schemes, Traps, and Crises
1. Market Manipulation Schemes
If the U.S. openly purchases tokens in the market, assets with low circulation like XRP and SOL will experience an epic surge. But who is positioning ahead of time? On-chain data shows that multiple anonymous addresses have significantly increased their holdings of XRP after March 1, coinciding highly with the timing of Trump’s tweets.
2. Regulatory Arbitrage Trap
On the same day, the SEC announced that 'meme coins are not securities,' which appears to relax regulations but is actually in line with the strategic reserve narrative. However, if tokens are included in reserves and the SEC later defines them as securities, retail investors will become the ultimate bag holders.
3. Liquidity Siphoning Crisis
If the strategic reserves are genuinely implemented, it may drain market liquidity—the money the U.S. government uses to buy coins comes from issuing national debt, and U.S. Treasury yields are already inverted, which amounts to using global capital to pay for the crypto bubble.
IV. Summit Agenda: Candy Coating and Cannons
1. Regulatory Clarification: Redistribution of Power
The Trump team plans to introduce 'zero capital gains tax' to attract institutions, but the details may come with KYC shackles. Compliance is not freedom, but centralized authoritarianism—only giants like Coinbase can bear the audit costs, while small exchanges will die in droves.
2. Mining Industry Planning: Competition for Energy Hegemony
If the U.S. includes Bitcoin mining in its infrastructure plan, it could replicate the shale oil revolution by attracting global computing power with cheap energy and subsidies. However, environmental groups are preparing to sue, claiming it violates carbon neutrality commitments.
V. Future Projections: The Aftermath of the Carnival
1. Short-term: FOMO and the Scythe
Before and after the summit, XRP and SOL may soar, and whales might sell off on good news. If retail investors chase high, they may become 'strategic reserve' human fuel. Moreover, Bitcoin has returned to the 90k high; if the meeting falls short of expectations, the scythe's true face will re-emerge.
2. Long-term: Regulatory Backlash and the Decentralization Paradox
Trump's 'pro-crypto' persona is built on opposing the Democratic Party; if the Democrats regain power in 2028, the SEC may restart the hardline approach of the Gensler era, and strategic reserve tokens could become policy casualties.
Conclusion
The White House summit is not a victory for the industry, but a conspiracy between crypto capital and political power. When Brad Garlinghouse and others toast with Trump, they are drinking not champagne, but the blood and tears of retail investors. Remember: the essence of strategic reserves is state-level manipulation.
