Cryptocurrency Summit at the White House
The first cryptocurrency summit at the White House, organized by President Donald Trump, took place on March 7 and brought together industry leaders to discuss regulatory policies, oversight of stablecoins, and the potential role of Bitcoin in the U.S. financial system.
Key points about the summit:
David Sacks, the White House's "czar of AI and cryptocurrencies," and Bo Hines, executive director of the Working Group, presided over the summit.
The purpose of the summit was for industry leaders to provide feedback on regulations, fulfilling Trump's promise to end Operation Chokepoint 2.0.
The roundtable is expected to include more than 25 participants, including members of the Presidential Working Group on Digital Assets.
Trump signed an executive order to initiate a strategic reserve of Bitcoin, instructing the Secretaries of the Treasury and Commerce to devise "budget-neutral" strategies for acquiring additional Bitcoin without imposing "incremental costs" on taxpayers.
Bitcoin would receive "special treatment" on the federal government's balance sheet, and the intent is for the government to "hold on to" Bitcoin in the long term.
In addition to Bitcoin, Trump has suggested including four other cryptocurrencies in the reserve.
Trump's Secretary of Commerce, Howard Lutnick, hinted that Bitcoin (BTC) could receive special consideration under the administration's cryptocurrency policy.
Some attendees included Michael Saylor (CEO of MicroStrategy), Zach Witkoff (co-founder of World Liberty Financial), and Vlad Tenev (CEO of Robinhood Markets). Brad Garlinghouse, CEO of Ripple, also hinted at his attendance.