US President Donald Trump held the first-ever cryptocurrency summit at the White House, where he met with industry leaders. About this informs Reuters.
Participants included World Liberty Financial co-founder Zach Witkoff, MicroStrategy CEO Michael Saylor, Coinbase co-founder and CEO Brian Armstrong, investors Cameron and Tyler Winklevoss, entrepreneur David Bailey, and lawmakers and senior Trump administration officials.
The main topic of the summit was the creation of a Strategic Crypto Reserve and a stock of other digital assets. Trump has already directed the Treasury and Commerce secretaries to develop “budget-neutral strategies” to acquire additional bitcoins without involving taxpayer funds.
The reserve will be filled with bitcoins that are owned by the federal government and have been seized in criminal and civil cases, according to David Sachs, the White House’s chief expert on AI and cryptocurrencies. The announcement sent bitcoin down 3.4% to $86,394.
Summit attendees expressed support for Trump and crypto industry leaders for their efforts to grow the sector. At the same time, entrepreneurs noted that after years of pressure related to issues of safety and protection of consumer rights, they welcome the readiness of the presidential administration to cooperate.
