President Trump hosted a “crypto summit” at the White House on Friday, bringing together leaders from nearly every major cryptocurrency company in the United States.
In the ornate State Dining Room, under the watchful gaze of Abraham Lincoln’s portrait, more than two dozen of the most influential figures in the U.S. cryptocurrency industry, collectively representing billions of dollars, assembled for a meeting with President Trump. After a brief wait, the executives rose to applaud as Mr. Trump entered the room.
“Many of you have fought for years for this,” Mr. Trump said as the room quieted. “It’s an honor to be with you at the White House.”
The summit was the first of its kind, providing a direct, in-person encounter between the President and the leading executives of the top crypto firms in the United States. While the public only saw a portion of the scheduled four-hour event, it clearly illustrated Mr. Trump’s recent shift toward embracing the crypto industry.
Several executives expressed their gratitude, including Tyler and Cameron Winklevoss, the founders of the Gemini crypto exchange. They praised Mr. Trump, describing him as “wonderful,” and said they were “overjoyed” with his approach.
“High I.Q. individuals around this table,” Mr. Trump replied.
Since taking office, Mr. Trump has significantly changed federal policy on crypto. The Securities and Exchange Commission (SEC) has largely reversed the aggressive crackdown on the industry pursued by the previous administration. The agency has swiftly issued legal guidance to assist crypto companies, ended investigations into major firms, and dropped lawsuits against major exchanges like Coinbase and Kraken.
