Crypto Summit: Trump Hosts Digital Currency Leaders at White House as It Happened
The White House hosted a summit with crypto leaders, where President Trump announced an executive order for a U.S. strategic reserve of cryptocurrencies, and officials clarified that US banks can engage in some crypto activities without regulatory permission. The announcement weighed on the price of bitcoin, which declined 3.4% to $86,394. The White House meeting highlighted Trump's support for the industry and his family's involvement with cryptocurrency platforms.
- The lack of specifics about how a government-owned stockpile of digital assets would work may raise concerns about potential mismanagement or exploitation of taxpayer funds.
- Will this strategic reserve serve as a catalyst for increased regulatory clarity on crypto investments, potentially stabilizing the market and addressing investor uncertainty?