Industry Reacts Differently to White House's First Cryptocurrency Summit

BlockBeats News, March 11th, FOX Business reporter Eleanor Terrett wrote that for the first-ever White House cryptocurrency summit held last Friday, investors and industry observers were originally expecting the Trump administration to announce a specific plan to make the United States the 'capital of cryptocurrency,' but the summit did not provide clear details, leading to various reactions.

Nevertheless, attendees generally felt positive about the atmosphere of the meeting and were optimistic about the government providing more regulatory clarity in the future. Former CFTC Chairman Christopher Giancarlo commented, "The summit was clearly a way for this administration to welcome this industry with open arms, it was their way of saying, 'you were persecuted, now we celebrate you.'" Ripple CEO Brad Garlinghouse bluntly stated that the attitudes of the two administrations towards cryptocurrency are completely different: "The Biden administration wants to put us in 'prison,' while the Trump administration directly invited us to the White House."

This meeting was hosted by Sacks and Hines and took place in the State Dining Room of the White House East Wing. Before the meeting, guests also had an informal cocktail party with government officials, but some officials such as Acting Comptroller of the Currency Rodney Hood only attended the cocktail party and did not participate in the formal meeting.