The elite in the coded currency industry with Donald Trump at the White House met on Friday to discuss how the government will crave Trump’s vision to make the country “the capital of encryption in the world.” During the round table summit, which was more than ten attendees, the president thanked all his guests.
Trump said: “The high individuals around this schedule are IQ,” Trump said. “We feel like we are pioneers.”
Trump hosted two players, including encrypted entrepreneurs, Cameron and Tyler Winkelvos; Michael Sailor, co -founder and CEO of Microstrategy; Zak Witkeov, one of the heads of the President’s encryption, World Liberty Financial.
Trump signed an executive order on Thursday to create a strategic reserve for the cryptocurrency of the United States. During the summit, he said that this reserve will be “Fort Nox digital for storing digital gold”.
David Sachs, a technical investor called Trump “Crypto CZAR”, thanked the president for his leadership in the digital asset industry and commented: “Your administration is moving quickly technology.
“This was an industry that was persecuted,” said Sachs. “No one understands that better than you.”
After the initial introductions, the attendees began the top of the camera. The event is expected to focus on Trump’s plans to build a strategic reserve, which the president said will contain bitcoin and four other coins. Trump directed Treasury and Trade Trustees to develop “budget neutral strategies” to obtain additional bitcoin that has no “gradual costs” on taxpayers.
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“For the first time, industry leaders feel that they are walking in a cooperative discussion,” said Les Porsay, co -founder of Wave Digital Assets, an investment consultant in encryption, who said he did not receive an invitation.
Participants said they are focusing on any other details about the strategic reserve, which is a government stock of encryption origins. The reserve will be obtained with Bitcoin owned by the federal government that has been confiscated as part of the procedures for confiscating criminal or civil assets, said Sacks earlier on the social media platform X.
“this [strategic reserve] “It will be the biggest disagreement point for many of us,” said JP Richardson, co -founder and CEO of Exodus, a Bitcoin Wallet developer.
“Crypto has made great steps, but it is still a relatively emerging industry,” Richardson said. Other coins are smaller and operate in a completely different way, one said it might create more risks. Brian Armstrong, co -founder and CEO of Coinbase, posted on Sunday that only Bitcoin reserves were “perhaps … the best option.” Richardson and Armstrong attended the summit.
In a post on X, Brad Garlinghyus, CEO of Ripple, who also attended the summit, praised Trump’s admission that we live in a multi -time world that extends beyond Bitcoin. XRP, the currency -related currency, is one of the other four cryptocurrencies that Trump suggested may be added to the encryption reserves. The attendees said they were optimistic about working with a administration looking at Crypto as a major assets category and expressed hope for a direct organizational process.
“What everyone really needs at this stage is the clarity of what will be the level of scrutiny and the intensity of the organization, and who will be the main organizers,” said Yish Yadaf, Assistant Dean and Law Professor at Vanderbelt University. This can speed up the approval process by the Securities and Stock Exchange Committee for a set of new lists of boxes circulating on the stock exchange.
The Trump family launched the Meme Coins Cryptocurrency, as it carries a stake in World Liberty Financial, a coding platform, which sparked some concerns related to interests. His assistants said that Trump has handed over control of his commercial projects, which are being reviewed by external ethics lawyers. The White House did not respond to a request for comment.