U.S. President Donald Trump welcomed cryptocurrency trade leaders to the White Home on Friday, unveiling plans for a government-owned digital asset stockpile. The summit, held within the State Eating Room, introduced collectively high executives, together with MicroStrategy CEO Michael Saylor, Coinbase CEO Brian Armstrong, and traders Cameron and Tyler Winklevoss.
A serious focus of the occasion was Trump’s new government order to create a strategic bitcoin reserve, funded by way of belongings seized in legal and civil forfeiture instances. Treasury Secretary Scott Bessent emphasised that taxpayer funds wouldn’t be used to amass digital belongings.
“We don’t need any value to the taxpayers,” Trump said. White Home crypto czar David Sacks described the reserve as lengthy overdue, however some trade leaders expressed disappointment over the shortage of plans to buy extra tokens. Bitcoin costs fell 3.4% following the announcement.
Trump, who has a stake in crypto platform World Liberty Monetary, framed the initiative as a historic step. “From this present day on, America will observe the rule that each bitcoin is aware of very effectively—by no means promote your bitcoin,” he declared.
The administration’s embrace of crypto marked a shift from previous regulatory tensions, with trade leaders praising the newfound collaboration. Nonetheless, Trump’s private involvement within the sector has raised conflict-of-interest considerations. The White Home has not commented on the matter.
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