March 7 (UPI) – President Donald Trump, who has a financial participation in cryptocurrencies, brought the Crypto Founders and investors to the White House on Friday in terms of the very first “Crypto Summit”.
Friday’s event, the first of its kind and which was led by the AI of the White House and the Crypto Tsar David Sacks, attracted a list of Who’s Who among the cryptocurrency business leaders who met to discuss the problems and regulations of digital assets.
The adoption of Crypto Trump is a spectacular department of the way other presidential administrations have dealt with emerging cyber. As a candidate, Trump has obtained financial support from many cryptographic companies.
The so-called summit comes when Trump hold a stake In WORLD Liberty Financial Cryptographic Companies, and this happens in the context of the administration, abandoning cases against cryptographic companies and other companies in several agencies.
Pause or abandoned cases include accusations of foreign corruption, security violations, unfair work practices and environmental crimes.
SACKS underlined how Friday’s event follows the creation by Trump of a strategic reserve of cryptocurrency. An executive decree creating the Crypto reserve – the Bitcoin Strategic Reserve – was signed Thursday at the Oval Office and it will be sown with around 200,000 bitcoins seized in legal proceedings.
The bags called him a “fortified digital knox”.
Trump’s White House event is an opening for industry that contributed substantial to its campaign in 2024 and played A major role in his electoral victory.
But the event also comes because more attention focuses on this relationship between industry and the president, as well as global cases of cryptocurrency fraud.
In a report on March 4, the public surveillance group Citizen said that the Trump administration “had already stopped or moved to reject the application surveys and cases Against 89 companies “including seven cryptographic companies.
The beneficiaries of abandoned cases include leaders of the billionaire technology of Elon Musk in Jeff Bezos, Mark Zuckerberg, Tim Cook, Sam Altman Ad of others, according to Public Citizen.
Public Citizen said in a statement: “After having released the rioters of January 6, the second administration of Donald Trump quickly evolves towards a new priority: to give` to leave cards without prison ” to companies faced with inquiries and federal proceedings about companies.
Among the cases, Trump’s administration has dropped are the SEC surveys and the proceedings against the contributors of Trump Robinhood Crypto and Coinbase.
Criminal cryptocurrency criminal problems are a global concern, and there have been cases of major cryptographic fraud and some have led to the collapse of crypto societies.
Affairs include the alleged South Korean crypto fraudster, Do Kwon, which was extradited to the United States in January to face federal criminal charges in the collapse of $ 40 billion in terrausd.
In May 2024, Gemini Crypto Exchange was forced by the New York Attorney General Letitia James to return $ 2.18 billion to fraud users.
In November 2023, the founder of the FTX, Sam Bankman Fried, was found guilty of all the accusations in the collapse of fraud of several billion dollars of Crypto Exchange FTX.
