The industry has mixed reactions to the first White House cryptocurrency summit

According to ChainCatcher, FOX Business reporter Eleanor Terrett wrote that investors and industry observers had hoped to hear the Trump administration's specific plan to make the United States a "cryptocurrency capital" at the first White House Cryptocurrency Summit held last Friday, but the content of the summit was still vague and the response was mixed.

Despite this, participants generally felt positive about the atmosphere of the meeting and were optimistic about the government providing more regulatory clarity in the future. Former CFTC Chairman Christopher Giancarlo commented: "This summit is obviously a way for this administration to welcome the industry with open arms. This is their way of saying "You have been persecuted, and now we celebrate you." Ripple CEO Brad Garlinghouse bluntly stated that the two administrations have completely different attitudes towards cryptocurrencies: "The Biden administration wants us to go to jail, and the Trump administration directly invites us to the White House."

The meeting was hosted by Sacks and Hines and held in the State Banquet Room in the East Wing of the White House. Before the meeting, guests also had an informal reception with government officials, but some officials, such as Acting Comptroller of the Currency Rodney Hood, only attended the reception and did not participate in the formal meeting.