© AP Photo / JIM WATSON
The White House held its first-ever Crypto Summit last Friday, bringing together senior government figures, including President Trump, and top industry execs to discuss the future of decentralized digital money. Sputnik reached out to a leading expert in the field to learn why the summit didn't turn out as the grand event it was hyped up to be.
“Essentially [it] was mostly show with little real actionable content,” Paul Goncharoff, veteran financial analyst and general director of consulting firm Goncharoff LCC, told Sputnik, dubbing the event “a first-class public relations event for media consumption.”
“The bottom line is that Bitcoin, Ethereum and similar cryptocurrencies in possession of the US Government will be concentrated in a special fund to be considered an asset of the United States,” the veteran financial analyst said.
Other Takeaways:
The fund will include cryptocurrencies that have been seized, impounded or otherwise similarly obtained, and not be bought using taxpayer dollars.
Also noteworthy is the administration’s support for stablecoins – a type of crypto that can be pegged to the dollar, other fiat currencies and other assets.
Trump’s verbal support for blockchain, AI and other innovative tech is important, according to Goncharoff, given that previous administrations have threatened to penalize some of them.
Also interesting was seeing crypto leaders seated at the same table with top government officials, including Trump and his Treasury secretary.
https://sputnikglobe.com/20250309/much-touted-white-house-crypto-summit-proved-much-ado-about-nothing-digital-money-expert-1121628285.html
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