‘We feel like pioneers’: Donald Trump hosts Crypto Summit at White House, vows to make US a leader

US President Donald Trump speaks through the White House Crypto Summit in Washington, Friday, March 7, 2025. (AP)

US President Donald Trump mentioned on Friday (native time) that he needs the US to be a leader in cryptocurrencies. Industry leaders praised him for altering insurance policies they mentioned have been unfair beneath the earlier administration.
“I thought it was very important that we stay in the front of this one,” Trump mentioned at the primary White House “Crypto Summit.”
Trump was upbeat in regards to the crypto trade’s prospects, telling the summit, “We feel like pioneers in a way.”
He added: “From this day on, America will follow the rule that every bitcoin knows very well, never sell your bitcoin. That’s a little phrase that they have. I don’t know if that’s right or not. Who the hell knows, right? Who knows? Who knows, but so far, it’s been right, and well, let’s keep it that way.”
The summit included executives from crypto firms, authorities officers, and lawmakers. Many audio system praised Trump’s method to digital belongings. The crypto trade mentioned it was handled unfairly by the Biden administration and performed a position in Republican wins within the final election.
Trump, who was beforehand skeptical about crypto, has now proven robust help. The crypto trade has additionally supported him and spent cash to assist him win final yr’s election.
“It’s truly wonderful to see how things have changed and how the pendulum has swung back,” Cameron Winklevoss, co-founder of crypto trade Gemini, informed Trump.
Trump repeated that he needs to help the crypto trade with legal guidelines and laws that aren’t strict.
The summit is a part of Trump’s latest efforts to increase the crypto trade. The US Securities and Exchange Commission (SEC) has dropped a number of instances in opposition to main crypto firms, together with some represented at the occasion.
On Thursday, Trump signed an govt order to create a “Strategic Bitcoin Reserve.” This order stops the US authorities from promoting bitcoin it obtained via authorized actions, which is price about $17 billion.
The order additionally permits the Treasury and Commerce Departments to develop “budget-neutral” plans for buying extra bitcoin, although particulars haven’t been launched.
The order offers bitcoin extra recognition. Bitcoin, the primary and most generally used cryptocurrency, has grown from a small venture by cryptography fans to an asset price $1.7 trillion in lower than 20 years.