Next Friday, March 7, Donald Trump will gather leading crypto investors and entrepreneurs at the White House for the first-ever Digital Asset Summit.
Trump calls himself the “first crypto president” of the United States and wants to make the country a global cryptocurrency center. However, the market is going through a crisis, and not everyone is sure that his plan will work.
Axios writes about it, UNN reports.
Details
The Trump family launched the official TRUMP token and the MELANIA meme-coin on January 17 and 18, respectively, which brought them tens of billions of dollars in cryptocurrency on paper
According to the White House, the summit will include well-known crypto project founders, CEOs, and investors. The event will be headed by David Sachs, who is responsible for the US administration's policy on artificial intelligence and cryptocurrencies.
Bo Hynes, executive director of the President's Working Group on Digital Assets, will lead the process. The announcement of the summit comes amid a global decline in the crypto market, which has some investors fearing that the Trump crypto boom is coming to an end.
Bitcoin has fallen 22% from its all-time high, which it reached on the day of Trump's inauguration.
The total market capitalization of all cryptocurrencies has fallen by 13% over the past week, according to CoinGecko.
Recall
Bitcoin has lost 21% from its peak on January 20, and the total market capitalization has decreased by almost $1 trillion.