CoinSpotMarket Update
Trump To Speak At Crypto Summit As Pro-Crypto Push Continues
3 minutes
5 days ago
3 minutes
5 days ago
Trump announced that Bitcoin (BTC) and Ethereum (ETH) will be central to a new “Crypto Strategic Reserve,” alongside XRP (XRP), Solana (SOL) and Cardano (ADA). Further information about the strategic reserve may be shared at the upcoming crypto summit, according to a post on X by David Sacks (White House AI & Crypto Czar).
U.S. President Donald Trump will host and speak at the first-ever White House Crypto Summit on March 7, the latest sign of his commitment to positioning the U.S. as a global leader in crypto innovation. While it remains unclear what the summit’s agenda will be, many are viewing this development positively, as it is another sign that the Trump administration wants to support crypto.
“Attendees will include prominent founders, CEOs, and investors from the crypto industry,” said David Sacks (White House AI & Crypto Czar), who will chair the summit.
The U.S. Securities and Exchange Commission (SEC) has continued in its effort to reshape U.S. crypto regulation, weeks after the appointment of Acting Chair Mark Uyeda. The SEC’s newly formed crypto task force will host a series of roundtable discussions on key crypto regulatory topics. The first roundtable will be on March 21 and live-streamed to the public.
Throughout February, the SEC closed investigations into various crypto companies and took no enforcement action. Among these were Uniswap Labs, the company behind Uniswap, and NFT marketplace OpenSea. Some of these investigations had spanned multiple years.
BlackRock, the world’s largest asset manager with over $17.4T ($11T USD) in assets under management, added its spot Bitcoin ETF to some of its model portfolios for the first time, allocating between 1% and 2%. This move should lead to greater indirect demand for BlackRock’s market-leading Bitcoin ETF, resulting in greater demand for Bitcoin, all else being equal.
Mexican billionaire Ricardo Salinas said he has “about 70%” of his personal portfolio in “Bitcoin-related exposure,” according to Bloomberg. This percentage is up considerably since from 2020, when Salinas made headlines after saying that 10% of his liquid portfolio was held in Bitcoin.
In his interview, Salinas advocated for dollar-cost averaging into Bitcoin. “Have a program where you can buy so much per month and buy every month,” he said. “That will take the uncertainty away.”
