Key Notes
- First crypto White House summit brings industry leaders to discuss US crypto future.
- Trump signs executive order to establish a Bitcoin reserve from seized assets.
- Industry leaders call for clearer crypto regulations and discuss reserve inclusion.
Leading cryptocurrency figures will meet with U.S. President Donald Trump at the White House on Friday to discuss plans for establishing the U.S. as the global “crypto capital.”
The meeting will include industry leaders like Michael Saylor, CEO of MicroStrategy, Vlad Tenev, CEO of Robinhood Markets, and Zach Witkoff, co-founder of Trump’s crypto business, World Liberty Financial.
Focus on Strategic Reserve
The meeting is anticipated to focus on President Trump’s initiative to establish a strategic reserve of Bitcoin
BTC
$86 969
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3.0%
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$63.60 B
and four additional cryptocurrencies. On March 6th, Trump signed an executive order directing the Secretaries of Treasury and Commerce to develop “budget-neutral strategies” to acquire more Bitcoin without adding any costs to taxpayers.
The summit is set to kick off at 1:30 pm ET (1830 GMT), as confirmed by those invited. The White House revealed the event on February 28, but did not respond to inquiries regarding the agenda, attendee list, or whether any executive actions are expected.
Les Borsai, co-founder of crypto investment firm Wave Digital Assets, who wasn’t invited to the summit, remarked that this is the first time many industry leaders are entering a space for a more cooperative conversation.
Concerns Over Inclusion of Other Cryptocurrencies
The key topic for those attending is expected to be updates on the proposed strategic reserve–a government stockpile of cryptocurrency assets.
The reserve will be funded with Bitcoin forfeited to the government through criminal or civil asset seizures, as confirmed by White House crypto czar David Sacks on X.
Just a few minutes ago, President Trump signed an Executive Order to establish a Strategic Bitcoin Reserve.
The Reserve will be capitalized with Bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings. This means it…
— David Sacks (@davidsacks47) March 7, 2025
JP Richardson, co-founder and CEO of Exodus, a Bitcoin wallet company, expressed concerns about including other cryptocurrencies in the reserve. Although he owns the four additional coins mentioned by Trump, Richardson believes they don’t belong in a strategic reserve due to their differences from Bitcoin and the risks involved.
Coinbase CEO Brian Armstrong also weighed in, suggesting that a Bitcoin-only reserve might be the most practical option. Both Richardson and Armstrong have confirmed they will attend the summit.
Excited to learn more. Still forming an opinion on asset allocation, but my current thinking is:
1. Just Bitcoin would probably be the best option – simplest, and clear story as successor to gold
2. If folks wanted more variety, you could do a market cap weighted index of crypto… https://t.co/jv8Gcn8N2S— Brian Armstrong (@brian_armstrong) March 3, 2025
Industry Optimism and Regulatory Clarity
Brad Garlinghouse, CEO of Ripple, commended Trump’s recognition of the “multichain world” beyond Bitcoin. He confirmed that XRP
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, the cryptocurrency associated with Ripple, is one of the five coins Trump has proposed for the reserve.
I’ve said this before – the crypto industry will achieve our goals (and beyond), IF WE WORK TOGETHER. Appreciate the crypto President @realDonaldTrump’s vision of a govt digital asset reserve representative of the industry.
Maximalism is the enemy of the industry’s progress.… https://t.co/GiAAI1NuRk
— Brad Garlinghouse (@bgarlinghouse) March 2, 2025
Participants expressed enthusiasm about working with an administration that treats crypto as a mainstream asset class. They stressed the need for clear regulatory guidelines.
Yesha Yadav, associate dean and law professor at Vanderbilt University, pointed out that the crypto industry is seeking clarity on the level of regulatory scrutiny and which agencies will oversee the space.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Hamza is an experienced crypto editor/writer with a deep understanding of blockchain technology, cryptocurrency markets, and digital finance. He is passionate about making complex topics accessible and helping readers navigate the fast-evolving world of crypto.
