Altcoin
Here’s All To Know About The White House Crypto Summit
25 key players have been invited to the White House Crypto Summit but their identities are under wraps. The high-profile event is expected to set off a chain reaction for positive crypto regulation by the Trump-led government. Here’s all there is to know about the first-of-its-kind event by the US executive.
White House Crypto Summit Will Have Industry Behemoths In Attendance
An official disclosure from the White House for a crypto summit has sent the industry buzzing with excitement. Per the announcement, US President Donald Trump will deliver key remarks at the event scheduled for March 7.
Led by crypto czar David Sacks, the report confirms that the White House Crypto Summit will be administered by Bo Hines, executive director of The Presidential Council of Advisers on Digital Assets.
Insiders claim that the summit will feature 25 individuals from the cryptoverse, including exchange founders and thought leaders. Exact names are shrouded in mystery but sources say an official list will be published in the coming days.
The event is coming on the heels of a wave of SEC case dismissals against prominent crypto sector players, signaling a new dawn for the industry
“Attendees will include prominent founders, CEOs, and investors from the crypto industry, as well as members of the President’s Working Group On Digital Assets,” read the White House statement.
The Summit Will Explore Digital Asset Regulation Issues
The event will broach several issues but sources say regulation will be at the top of the pile. Crypto czar David Sacks and Bo Hines have been blowing hot on a raft of new forward-thinking regulations for stablecoins and other digital assets.
In particular, the summit will feature conversations around cross-agency crypto regulations while interfacing with the private sector. There is speculation that the White House Crypto Summit may replace the previously touted Crypto Advisory Council.
Several pundits say a Bitcoin Strategic Reserve for the US will feature prominently in the White House Crypto Summit discussions.
The summit will be the first in a long streak of conversations between the White House and the private sector. Experts say the summit’s composition will change each edition as the White House seeks diverse opinions for new regulations.
Aliyu Pokima
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
As the markets break into a frenzy following President Trump’s executive order for a Crypto Strategic Reserve, BNB is noticeably absent from the announcement. Binance founder Changpeng Zhao (CZ) is eyeing the addition of BNB to the Strategic Reserve at a later date while urging community member to remain chill.
BNB Fails To Make The Cut For Strategic Reserve
US President Donald Trump has issued an executive order for the establishment of a Crypto Strategic Reserve after weeks of speculation. The announcement extends the composition of the reserve beyond Bitcoin (BTC) to include a raft of altcoins including XRP, SOL, and ADA.
While the altcoins are part of the top 10 cryptocurrencies by market capitalization, the absence of BNB has raised eyebrows in certain quarters. BNB, with its $86 billion, market capitalization did not make the cut for the US Crypto Strategic Reserve, sparking theories for the exclusion.
Amid the altcoin rally, BNB has recorded only a modest bump in prices, rising by 3.3%. XRP, SOL, and ADA are basking in double-digit gains while BTC price has surged past the $90K mark following Trump’s announcement.
Binance Founder Urges BNB Holders To Chill, Eyes Future Inclusion
CZ, in a post on X, theorizes that the initial cryptocurrencies selected by Trump to join the Crypto Strategic Reserve are “clearly US coins.” The Binance founder argues that the US will want to test the waters with coins launched by US founders like Ripple CEO Brad Garlinghouse before expanding to other cryptocurrencies like BNB.
“This round is clearly US coins,” said CZ. “Kudos to them for moving things forward.”
He urged community members to remain “chill” and not overanalyze the decision to exclude BNB from the Crypto Strategic Reserve. CZ says Trump’s announcement that “other valuable cryptocurrencies” will be hints at future inclusion but the statement only namechecks BTC and ETH.
The Binance founder adds that other countries will roll out their Crypto Strategic Reserves in the coming months, hinting that their establishment will include BNB.
“More valuable crypto are likely to be added over time,” said CZ, citing Trump’s statement. “More countries will follow.”
Aliyu Pokima
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Ripple CEO Brad Garlinghouse has commented following Donald Trump’s announcement of a crypto strategic reserve. The US president revealed that the reserve will include Ripple’s native token XRP, leading to a massive surge for the crypto.
Ripple CEO Comments As Trump Includes XRP In Strategic Reserve
In an X post, the Ripple CEO appreciated Trump’s vision of a government digital asset reserve while reaffirming what the crypto industry could achieve if everyone worked together. He further stated that maximalism is the enemy of the industry’s progress. This statement seems directed at stakeholders criticizing the inclusion of other crypto assets besides Bitcoin in the strategic reserve.
Garlinghouse also remarked that it glad to see the US president recognizing that market participants live in a multichain world and that the industry is finally moving past Bill Hinman and the Biden’s administration’s SEC “very broken thinking.”
Earlier today, President Donald Trump announced a strategic reserve that will include Solana, Cardano, and XRP. The president later confirmed that the reserve will also include Bitcoin, Ethereum, and other “valuable cryptocurrencies.” The crypto market rebounded on the news, with SOL, ADA, and the XRP price among the top gainers in the last 24 hours.
Criticisms Against The Strategic Reserve
Amid the Ripple CEO’s comment, there have been criticisms around the inclusion of other cryptocurrencies besides Bitcoin in the strategic reserve. In an X post, Alex Xu, a research partner at Mint Ventures, suggested Trump’s inclusion of SOL, ADA, and XRP will weaken the idea of a Bitcoin strategic reserve and even reduce the chances of the US Congress approving the Bitcoin reserve bill.
Bitcoin critic Peter Schiff also criticized the inclusion of other cryptocurrencies in the strategic reserve. He stated that although he disagrees with it, he gets the idea of a Bitcoin strategic reserve. He explained that there is a gold reserve, and since Bitcoin is labelled as digital gold, it also makes sense to create a reserve around the flagship crypto.
However, on the other hand, he questioned the rationale for an XRP reserve and why the US would need it. In response, Cardano founder Charles Hoskinson stated that there is a need for one because XRP is a “great technology, a global standard, survived for a decade through many cycles, and has one of the strongest communities.” He further opined that the president made the right decision.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
While conversations for a Bitcoin Strategic Reserve have been swirling in crypto circles, US President Donald Trump has confirmed his administration’s intention to proceed with the offering. Rather than put all its eggs in one basket, Trump is eyeing a Crypto Strategic Reserve including altcoins XRP, SOL, and ADA.
President Trump has announced plans to launch a US Crypto Reserve that will include BTC, XRP, SOL, and ADA. The President has since directed the Presidential Working Group on Digital Assets Market to proceed with the establishment of a Crypto Strategic Reserve.
“A US Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA,” said Trump on X.
This is a developing story.
Aliyu Pokima
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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