2-3-2025 – President Donald Trump is set to preside over an unprecedented cryptocurrency summit at the White House next Friday, cementing his administration’s increasingly warm embrace of digital assets.
The gathering, to be spearheaded by venture capitalist and newly appointed White House cryptocurrency czar David Sacks, represents a dramatic departure from the previous administration’s stringent regulatory stance following high-profile collapses within the sector, including the FTX digital-asset exchange.
According to a Friday evening statement, prominent industry founders, chief executives and investors will converge at the White House alongside members of the President’s Working Group on Digital Assets, with executive director Bo Hines overseeing proceedings.
“The administration is committed to providing a clear regulatory framework, enabling innovation, and protecting economic liberty,” the White House affirmed, underscoring the administration’s supportive stance towards the burgeoning sector.
Trump’s personal journey with cryptocurrency has witnessed a remarkable transformation. Once dismissing digital currencies as a “scam”, the President has not only reformed his position but actively ventured into the space himself, launching a memecoin shortly before his return to office and backing World Liberty Financial, a project involving his sons.
The cryptocurrency industry has reciprocated this newfound allegiance, contributing millions to Trump’s inaugural committee following his election victory.
Shortly after assuming office, President Trump established the Working Group on Digital Assets through executive order, tasking key agencies—including the Treasury and Justice Departments, Securities & Exchange Commission, and Commodity Futures Trading Commission—with advising on digital asset policy and evaluating the potential development of a national cryptocurrency stockpile.