Key figures in the crypto industry are preparing for a significant meeting with U.S. President Donald Trump at the White House. The focus will be on the development of Trump’s strategic crypto reserve and the country’s journey towards becoming the global crypto hub.
Notable attendees such as Michael Saylor, CEO of MicroStrategy, and Zach Witkoff, co-founder of Trump’s crypto venture, World Liberty Financial, have expressed their intentions to attend the meeting through social media. Robinhood Markets’ CEO, Vlad Tenev, will also be present, as confirmed by a company representative.
Trump’s aspirations for a strategic reserve comprising bitcoin and four other cryptocurrencies will be a key topic of discussion. The reserve, established through an executive order signed by Trump, will be managed by the Treasury and Commerce Departments. The aim is to strategically acquire more bitcoin without any additional financial burden on the taxpayers.
The summit, scheduled to start at 1:30 pm ET, was announced by the White House on February 28. However, no further details on the agenda or the attendees have been released.
Les Borsai, co-founder of Wave Digital Assets, stated that this meeting signifies the initiation of a collaborative dialogue with the industry leaders. Participants are particularly keen to learn about the strategic reserve, which will be backed by bitcoin seized by the federal government in criminal or civil asset forfeiture proceedings, as revealed by David Sacks, the White House crypto czar.
JP Richardson, co-founder and CEO of Exodus, voiced his concerns about the inclusion of the four other coins in the strategic reserve, citing their different functionalities and potential risks. Coinbase CEO Brian Armstrong expressed his preference for a bitcoin-only reserve.
Brad Garlinghouse, CEO of Ripple, praised Trump’s acknowledgment of a “multichain world” beyond bitcoin. XRP, Ripple’s associated coin, is among the four cryptocurrencies being considered for inclusion in the reserve.
Despite concerns about Trump’s personal stake in World Liberty Financial, attendees are hopeful for a clear regulatory process that recognizes cryptocurrencies as mainstream assets.
Yesha Yadav, a law professor at Vanderbilt University, emphasized the need for a clear understanding of the intensity of regulation and the identity of key regulators, which could expedite the approval of new exchange-traded funds by the Securities and Exchange Commission.
