The crypto summit, which was organized with great expectation at the White House, did not create the expected effect in the markets. After President Donald Trump’s speech, Bitcoin and Ethereum lost value.
After the crypto summit, sales started in Bitcoin market
President Trump made statements at the summit attended by about 30 entrepreneurs, deputy and government officials on Friday. The participants included Microstrategy President Michael Saylor, Coinbase CEO Brian Armstrong and Treasury Minister Scott Bessent.
Bitcoin, more than 2 %decrease after the summit, while Eteehreum, Solana and XRP depreciated by 2 %, 3 %and 4 %respectively. Decreases with the current situation are on average 5 %.
With the decree signed on Thursday, Trump identified the US $ 17 billion Bitcoin presence as a “strategic reserve ve and prohibited state institutions from selling these assets.
“Unfortunately, the US government has fallen into the mistake of selling tens of thousands of Bitcoin worth billions of dollars in recent years, Tr Trump said,“ America will follow a rule that Bitcoin owners know very well: Never sell Bitcoin, ”he said.
Bessent said that this decision would make the US a global leader in the digital existence strategy. “We will use this authority to strengthen the US balance sheet,” he said.
Crypto sector reclaims banking access
The Trump administration reiterated that it would end the “Operation Choketpoint 2.0” application, which was alleged to be aimed at excluding the crypto sector from the banking system during Biden.
In addition, the Currency Supervision Office announced that national banks and federal savings associations can provide crypto asset storage services, participate in certain stabilcoin transactions and operate in independent verification networks. However, investors were waiting for stronger steps from the first crypto summit of the White House.
As we have quoted as Kriptokoin.com, investors find solace with the prohibitions removed for the future of the defi sector.
Follow us on Twitter, Facebook and Instagram to be informed instantly about last -minute developments and join our Telegram and Youtube channel!
