Trump tells the cryptography leaders that he is committed to helping industry

By Alan Suderman, Associated Press

President Donald Trump said on Friday that he was determined to make the United States a world leader in cryptocurrencies while the chiefs of the industry praised him with the inversion of what they said they were unjust attacks against digital assets by the previous administration.

“I thought it was very important that we stayed at the front of it,” said Trump at the very first “cryptographic summit”.

Former crypto skeptic, Trump warmly adopted an industry that showed him an important love in return and went strongly to help him win the elections of last year.

“It’s really wonderful to see how things have changed and how the pendulum turned,” Cameron Winklevoss, the co-founder of the Gemini crypto-exchange, told Trump.

The summit included leaders of the Crypto Society, Cabinet officials and legislators, many of whom have taken turns on Trump’s leadership on digital assets. Enhardie industry said it was unjustly treated by the Biden administration and helped Trump and that other Republicans score victories in the last elections.

Trump reiterated his eagerness to help cryptographic industry with friendly legislation and light regulations.

The summit on Friday was the last in a series of actions that the new Trump administration has taken to try to stimulate the cryptography industry. In particular, this includes the Securities and Exchange Commission removing several application measures against large cryptographic companies, including those whose leaders were on Friday.

Thursday, Trump signed an executive decree establishing a “Bitcoin strategic reserve”, which essentially prohibits the US government from selling Bitcoin – currently estimated at around $ 17 billion – it has acquired through the confiscation of criminal and civil assets.

The ordinance also allows the Treasury and Trade services to propose “neutral” plans for the government to acquire additional bitcoin, although no detail of what these plans can look like.

The command is a significant boost for the credibility and the legitimacy of Bitcoin. The oldest and most popular cryptocurrency, Bitcoin has gone from an experience of lovers of libertarian cryptography to an asset worth 1.7 Billion of dollars in less than two decades.

“Bitcoin is special,” said David Sacks, Tsar Crypto from the Trump administration, told journalists on Friday.

Trump’s order also creates “storage of digital assets”, where the government will hold cryptocurrencies other than bitcoin. Trump sent the cryptography prices on Sunday on a short-term wave after a surprise announcement that he wanted the government to have less known cryptocurrencies XRP, Solana and Cardano.

We do not know why Trump named these specific cryptocurrencies and no others. His announcement made an excitement in the cryptographic community as to whether the government would choose the winners and the losers between different types of cryptocurrencies.

Yesha Yadav, a professor at the Vanderbilt Law School, said that it is clear that the Trump administration wanted to avoid being trained in this kind of fight with the way the executive order was formulated.

“It is not surprising that the Trump EO of yesterday was quite neutral,” she said.

Trump’s foray into the crypto has included the support of a personal and other businesses to get rich himself and his family. These movements have aroused rapid criticisms of democrats and even crypto enthusiasts who support Trump.

Sacks told journalists on Friday that personal projects related to Trump’s cryptography was “unrelevant” for the work of the industry. This work said Sacks focused on making the United States the world capital in crypto thanks to clear and clear regulations that promote innovation while protecting investors.

Sacks added that his role was not to try to convince the Americans to buy crypto.

“You should do your homework because it’s a very volatile industry,” said Sacks. “It’s not for everyone.”

Originally published: March 7, 2025 at 2:40 p.m. PST