President Donald Trump on March 7 declared his commitment to positioning the United States as a global cryptocurrency leader during the first-ever White House Crypto Summit.
The event brought together top crypto industry executives, cabinet officials, and lawmakers, many of whom praised Trump for reversing what they described as the previous administration’s unfair attacks on digital assets.
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The crypto community played a key role in Trump’s victories
“I thought it was very important that we stay at the front of this one,” President Trump said, emphasising the need for the U.S. to maintain its competitive edge in the rapidly evolving crypto sector.
Once a crypto-sceptic, President Trump has warmly embraced the industry, which has shown significant support for him in return. The crypto community played a key role in helping the president and other Republicans secure victories in last year’s election, with industry leaders like Elon Musk spending heavily to back his campaign.
Cameron Winklevoss, co-founder of the crypto exchange Gemini, expressed his enthusiasm, saying
“It’s truly wonderful to see how things have changed and how the pendulum has swung back.”
The summit noted the industry’s grievances with the Biden administration, which they claim unfairly targeted digital assets. Attendees, including prominent crypto executives and lawmakers, took turns applauding President Trump’s leadership on the issue, signalling a renewed alliance between the emboldened crypto sector and the Trump administration.
This historic gathering marks a significant shift in the U.S. government’s approach to cryptocurrencies, with Trump vowing to champion the industry on the global stage.
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About the crypto community
The crypto community is a diverse and rapidly growing global network of individuals, organisations, and businesses actively involved in developing, adopting, and promoting cryptocurrencies and blockchain technology.
Core participants include developers and technologists, as well as investors and traders. Furthermore, it also features entrepreneurs, startups, miners, and validators.