On March 7, 2025, the night sky in Washington was ignited by the excitement of the cryptocurrency circle. The White House opened its golden doors to digital assets for the first time, with Trump raising the banner of 'crypto hegemony', claiming to end the 'regulatory winter' of the Biden era and push the U.S. into a 'new blockchain era'. This summit, touted as 'defining the crypto rules for the next four years', gathered CEOs from giants like Coinbase and MicroStrategy, as well as heavyweight congressional members, making the lineup a 'crypto all-star'.
Highlight moment? No, it's a 'rainbow fart' bombardment!
The summit kicked off with Trump passionately announcing the establishment of a 'Strategic Bitcoin Reserve', claiming that the U.S. holds 200,000 bitcoins and vowing to 'never sell'. Treasury Secretary Basent followed up, sharply criticizing the previous administration for 'stifling innovation' and promising to promote stablecoin legislation. However, the live broadcast was mysteriously interrupted after just 20 minutes, and the subsequent closed-door meeting turned into a stage for industry leaders to 'worship' Trump—praising him from 'brilliant and powerful' to 'legal warrior', with flattery piling up like a mountain, while policy details remained as transparent as air.
Market heartbreak night: Solana plummets, falling sharply!
When the 'industry turning point' devolved into a political show, the crypto market immediately changed its face. Bitcoin plummeted from $155 to $138, XRP fell below $2.4, and investors shouted in social platforms: 'The biggest rug pull in history!'. Although Trump shouted for 'clarity in regulatory frameworks', the SEC's determinations on Ethereum, miner taxes, and other core issues were left unaddressed, leaving only a piece of 'support for innovation' as an empty check.
Crypto Idealism VS Political Game: Who is 'stealing the future'?
This summit is very much like a metaphor for the crypto world—a belief in decentralization ultimately hard to escape the capture of centralized power. When Trump referred to the Bitcoin reserve as 'Digital Fort Knox', and when the founder of Chainlink warned that 'crypto has become a political tool', the madness and disillusionment of the industry resonated at this moment. Perhaps the only truth of this 'White House carnival' is: 'The golden age of crypto has never escaped the script of Washington.'
(Tonight, believers cry in the candlesticks, while the laughter from the White House penetrates every byte of the blockchain.) 💔
