- Trump vowed to end Operation Chokepoint 2.0, signaling a friendlier regulatory environment for crypto.
- The Strategic Bitcoin Reserve will hold 200,000 BTC, with a commitment to never sell government-owned Bitcoin.
- Crypto leaders from Coinbase, Ripple, Kraken, and Chainlink attended the summit, reinforcing industry ties with Washington.
President Donald Trump assured the crypto industry it was on fresh ground during a historic White House Crypto Summit on Friday. The message was clear: crypto has powerful allies in Washington.
“I know that many of you have been fighting for years for this, and it’s an honor to be with you at the White House,” Trump said as he kicked off the event.
Ending the “War on Crypto”
Trump wasted no time taking aim at the policies of his predecessor. He blamed regulators for strong-arming banks into shutting down crypto accounts and blocking transactions, a practice known as Operation Chokepoint 2.0.
“All of that will soon be over,” Trump declared. “We are ending Operation Chokepoint 2.0.”
The president also voiced support for stablecoin legislation, pushing for regulatory clarity on dollar-backed digital assets before Congress adjourns for summer recess.
“This is a tremendous opportunity for economic growth and innovation in our financial sector,” he said. “It will go a long way.”
The Strategic Bitcoin Reserve: A Shift in U.S. Policy
Trump also defended his Strategic Bitcoin Reserve, calling it “foolish” that the U.S. had previously sold off so much of its seized Bitcoin.
“The federal government is already one of the largest holders of Bitcoin—really, one of the largest in the world—with as many as 200,000 BTC obtained through civil enforcement actions,” Trump said. “These holdings will form the foundation of the new reserve.”
From now on, he emphasized, the U.S. would follow a rule familiar to Bitcoiners: never sell your Bitcoin.
Industry Leaders in Attendance
The summit attracted major figures from the crypto world, including executives from Coinbase, Ripple, Kraken, Gemini, Chainlink, and Robinhood. Tyler and Cameron Winklevoss of Gemini and Sergey Nazarov of Chainlink were among those who spoke during the event’s livestreamed session.
Earlier in the day, a senior White House official further clarified the administration’s crypto stance. According to the official, non-Bitcoin assets seized in civil and criminal cases will be placed into a separate crypto stockpile—but no new taxpayer funds will be used to acquire additional altcoins.
Setting a New Tone for Crypto in Washington
The summit underscored the administration’s rapid pivot toward crypto-friendly policies, a stark contrast to the Biden administration’s regulatory clampdowns.
Trump’s executive order on Bitcoin and his push to normalize stablecoins signal a major shift in Washington’s approach to digital assets. But questions remain—especially regarding how the government might fund future Bitcoin acquisitions without relying on taxpayer dollars.
For now, the message from the White House is clear: crypto has a seat at the table.
