U.S. President Donald Trump is set to host the first-ever cryptocurrency summit at the White House next Friday, reflecting his growing support for the sector. In a statement released by the White House, it was announced that President Trump will deliver a speech during the summit, which will bring together key figures in the crypto industry, including prominent founders, CEOs, and investors, along with members of the working group established under his supervision to discuss digital assets.
The working group, formed under the president’s directive, includes key government agencies tasked with advising the White House on cryptocurrency and digital asset policies. The group is also studying the possibility of establishing a strategic reserve for these assets. It consists of representatives from the U.S. Departments of Treasury and Justice, along with regulatory bodies such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
Regarding the summit’s organization, venture capitalist David Sacks, one of the strongest advocates for cryptocurrency at the White House, will lead the event. Meanwhile, Bo Hines, the executive director of the presidential working group, will oversee and manage the summit’s proceedings.
Shortly after taking office, Trump issued an executive order to form the working group, which includes the aforementioned agencies, to provide policy recommendations on digital assets and explore the feasibility of establishing a strategic reserve for cryptocurrencies.
Despite his previous criticism of cryptocurrencies—once calling them a “scam”—Trump’s stance shifted during his 2024 presidential campaign. He pledged to ease regulatory restrictions on the sector, appoint pro-crypto officials, support a regulatory framework for stablecoins, and establish a strategic Bitcoin reserve. Following his election victory, the crypto industry contributed millions of dollars to his inauguration committee. While not all of his campaign promises have been fulfilled yet, his administration’s policies and the upcoming summit indicate a significant shift from the strict regulatory approach adopted by the Biden administration, particularly after the collapse of FTX and other industry scandals.
On a personal level, Trump has actively engaged with the crypto world, launching a “meme coin” before his return to the White House. He has also backed a joint project with his sons called “World Liberty Financial.” In its statement, the White House emphasized that “the U.S. administration is committed to establishing a clear regulatory framework, fostering innovation, and protecting economic freedom.”
