![White House to Host First-Ever Cryptocurrency Summit [WATCH]](https://parlerpulse.com/wp-content/uploads/2025/03/2024.07.27-10.00-rvmnews-66a56de1c3bfe-B9K7YI.jpeg)
The White House is set to hold its first cryptocurrency summit on Friday, with key figures in the digital asset space gathering to discuss the future of the industry under President Donald Trump’s administration.
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The event comes as recent tariff threats from the president have contributed to a $400 billion loss in the crypto market over the past week.
The summit will be chaired by White House A.I. and Crypto Czar David Sacks and hosted by Bo Hines, executive director of the President’s Working Group on Digital Assets.
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Investors, policymakers, and industry leaders are expected to attend, with discussions likely focusing on regulatory clarity, market stability, and the administration’s vision for digital finance.
In a statement, the White House outlined its commitment to fostering innovation in the cryptocurrency space while ensuring a clear regulatory framework.
“After the previous administration unfairly prosecuted the digital asset space, President Trump’s policy vision represents a new era for digital financial technology.
The administration is committed to providing a clear regulatory framework, enabling innovation, and protecting economic liberty,” the statement read.
During his campaign, Trump gained strong backing from the cryptocurrency community by pledging to usher in a “golden age” for digital assets.
However, the recent downturn in the market has dampened expectations, with the sector experiencing significant losses since his inauguration in January.
Following record highs after Trump’s electoral victory in November, the cryptocurrency market has since fallen by approximately $800 billion.
Bitcoin, which peaked at $110,000 after the election, has dropped to just over $80,000. Ethereum and other major cryptocurrencies have also seen steep declines.
Friday’s summit is expected to address these concerns, with some in the administration hoping the event will help stabilize investor confidence.
Trump himself is scheduled to speak, reinforcing his administration’s commitment to making the United States a leader in digital financial technology.
The president has previously expressed strong support for the cryptocurrency industry.
While on the 2024 campaign trail, he spoke at a Bitcoin conference in Nashville, Tennessee, where he pledged to make the United States the “crypto capital of the planet” and announced plans to create a Bitcoin strategic reserve.
With the cryptocurrency market facing uncertainty, the outcome of this summit may play a critical role in shaping U.S. policy on digital assets moving forward.
Industry leaders and investors will be closely watching to see how the administration balances its support for innovation with broader economic policies that have contributed to market volatility.
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