In a groundbreaking move, President Donald Trump took decisive action in reshaping the U.S. government’s stance on cryptocurrency by ordering the creation of a significant Bitcoin reserve.
Following the Establishment of a Bitcoin Reserve, the President Welcomes Crypto CEOs to the White House, Announcing the End of U.S. Government Resistance to Cryptocurrency.
Later today, he welcomed a diverse group of cryptocurrency CEOs to the White House for a historic summit, where he declared the end of the government’s longstanding resistance to digital currencies. In a bold statement, the President revealed plans to officially terminate the controversial Operation Chokepoint which had been previously targeted as cryptocurrency-related businesses and institution.
During the summit, Trump went on to discuss his broader vision for the future of digital assets, making clear his intention to foster a more welcoming environment for blockchain technologies and cryptocurrencies. He expressed confidence that stablecoin legislation would be in place by August, signaling a major policy shift toward regulatory clarity in the fast-growing sector.The President further emphasized the importance of his recent executive order, which authorizes the U.S. to build a significant Bitcoin reserve, solidifying the nation’s dedication to integrating digital assets into its financial framework.
The summit brought together a mix of CEOs from various sectors around the world within the cryptocurrency world, each representing different facets of the digital economy. Alongside these industry leaders were prominent figures from the Trump administration.
WASHINGTON, D.C. — In a landmark summit at the White House on Friday, President Donald Trump assured the crypto industry that it was entering a new era, signaling that it had gained influential allies across Washington.
“I know many of you have been fighting for this for years, and it’s great to be with you here today,” Trump said as the meeting began. He pledged to end the previous administration’s “war on crypto,” lauded legislative efforts in Congress, and highlighted his newly established Bitcoin reserve.
Trump criticized government regulators for pressuring banks to shut down accounts belonging to crypto businesses and thus hindering financial transactions. “They really did strong-arm the banks, blocking transfers to and from exchanges, using the government to target the entire industry,” he said. “But that’s all about to change—we’re ending Operation Chokepoint 2.0.”
The President expressed his desire to sign stablecoin legislation before Congress breaks for summer, showing strong backing for lawmakers working on regulatory clarity in the digital asset space. “This is a huge opportunity for growth in our financial sector,” he added.
Trump also made it clear that he disagreed with the government’s past Bitcoin sales, calling it “foolish” that so much of the seized cryptocurrency had been sold off. “The federal government now holds one of the largest Bitcoin reserves in the world with over 200,000 coins, which will serve as the foundation for our new Bitcoin reserve,” he said.
“From now on, America will stick to the rule that every Bitcoiner knows: never sell your Bitcoin.”
The summit drew a variety of industry leaders, including executives Ripple, Kraken, Gemini, and Chainlink. The even also featured appearances from Tyler and Cameron Winkelvoss of Gemini and Sergey Nazarov of Chainlink and was live streamed and marked a significant moment for industry.
The afternoon summit was mainly aimed at signaling a shift in the administration’s approach, as it has worked to quickly create a more welcoming environment for digital assets, in sharp contrast to the tougher stance the industry faced under former President Joe Biden’s leadership.The goal was to show that the current administration is ready to embrace innovation and foster growth in the digital asset space, signaling a clear break from the past.
