Key Insights
- The crypto market is set to experience the first-ever White House crypto summit, hosted by President Donald Trump.
- Many industry leaders are expected at the event, including members of the crypto working group, former Binance CEO Changpeng Zhao, and Ripple’s Brad Garlinghouse.
- Interestingly, despite the inclusion of $ADA into the Federal Reserve plans, Cardano founder Charles Hoskinson wasn’t invited.
- Hoskinson has stated that the crypto summit is a largely symbolic event, with the major decisions taking place on the legislative level.
The first-ever White House Crypto Summit is set to be hosted by President Donald Trump and will take place on 7 March.
The event will draw in major attention from most of the industry, and speculation is already swirling over possible announcements during the event.
One of the most important of these is the full details of the incoming US Federal Reserve.
The crypto summit has already confirmed the attendance of several high-profile executives—however, a few aspects of this event have raised eyebrows.
Who’s Attending the White House Crypto Summit?
According to reports from FOX business reporter Eleanor Terrett, this crypto summit is expected to host over 25 participants.
Most of these will be members of Trump’s Presidential Working Group on Digital Assets.
Terrett confirmed that the invite list also includes at least 11 executives from the crypto space, along with two White House representatives.
One key figure expected to make an entrance is Ripple CEO Brad Garlinghouse, who hinted at being invited in a recent post on X (Twitter).
This is especially noteworthy, considering how Ripple still remains embroiled in an ongoing legal battle with the SEC.
While the full list of attendees hasn’t yet been disclosed, Terrett believes that the Trump administration has put major priority on the crypto industry’s movers and shakers.
Per reports, industry leaders like former Binance CEO Changpeng Zhao and Tether CEO Paolo Ardoino are expected to be involved.
A Parallel Event for Those Not Invited
Industry players left out of this event are expected at a separate invite-only reception across the street from the White House.
Although most of the details of this event are unconfirmed, this gathering of players in two separate events could serve as another additional platform for policy discussions.
Interestingly, one of the most anticipated and speculated-on events in the crypto summit is the possible unveiling of the US crypto reserve.
Commerce Secretary Howard Lutnick has hinted in a recent update that while the US presidency is considering a national crypto reserve, it is likely to prioritize Bitcoin above other digital assets.
“The President definitely thinks that there’s a Bitcoin strategic reserve,” Lutnick said in an interview with The Pavlovic Today.
He went further to mention that while Bitcoin is the star of the show, additional details about how the Federal government will handle the other cryptocurrencies are expected to be revealed at the summit.
Bitcoin and Other Cryptos in the Strategic Reserve
While Bitcoin has been the main focus of this initiative so far, the presidential working group is also discussing other digital assets.
Donald Trump himself hinted at this in a Truth Social post earlier this week, in which he mentioned that other assets like Ethereum, XRP, Cardano, and Solana will also have a place in this reserve.
This development shows a wider approach to crypto investment from the US presidency.
It could also mark a major shift in the US crypto policy, which has been known to be harsh on digital assets during the Biden/Harris administration.
The move from the US could provide a framework for government-backed digital asset reserves and even prompt similar changes from the rest of the world.
Charles Hoskinson’s Absence Sparks Debate
One of the most surprising developments in the days before the summit is the exclusion of Charles Hoskinson, the founder of Cardano.
Considering how the cryptocurrency itself is included in discussions about which cryptocurrencies to add to the US crypto reserve, many speculators expected him to be a key player at the summit.
However, Hoskinson himself confirmed that he did not receive an invitation.
It is also worth noting that despite his active engagement with lawmakers, nobody from the Cardano Foundation was reportedly invited.
This has led to widespread speculation about what could be happening.
Despite the snub, Hoskinson has reacted by downplaying the significance of the summit.
He argued via YouTube that the real policy decisions will be made at the legislative level and that while the summit will be good for generating headlines, there is no real way to tell what its actual impact on crypto regulations will be.
“I don’t imagine much policy work will be done.” he said “[most] of the action will be done at the legislative branch level”
What’s Next for U.S. Crypto Policy?
The crypto summit is set to take place in just a few days, and the crypto industry is eager to see what comes next.
Will the Trump administration introduce more solid regulations for the crypto space, or is this event more of a symbolic gathering?
If the US does move forward with the Bitcoin reserve, it could set the stage for othe countries to follow suit.
This will reinforce Bitcoin’s status the more as a global reserve asset.
However, there are still lingering questions about how the other assets not included in this reserve bill will be treated.
Will the regulatory clarity spread across the crypto industry, or will it be focused on the “big five”?
Regardless of the crypto summit’s outcome, however, the conversation around crypto regulations in the US (and the rest of the world) is heating up, and the industry’s traders/investors are paying attention.
