The long -term cryptocurrency summit, held at the White House, created great hope in the cryptocurrency community. However, the content and agenda of the summit has attracted a distant picture to meet expectations.
The event took place under the leadership of US President Donald Trump, limited in unexpected issues and symbolic gestures, instead of giving specific messages about cryptocurrencies and regulatory methods.
FIFA's agenda instead of cryptocurrencies At the summit held on Friday, March 7, important discussions were expected in the United States on the future of cryptocurrency chains and blocks. However, the opening speech was done by FIFA Gianni Infantino instead of Trump, which was a big surprise for the participants. Infantino not only introduced the new FIFA trophy in the form of a ball similar to Game of Thrones's Genener, but also came up with an idea of a potential notification code that could be released on behalf of FIFA. Infantino emphasized that the global football economy is 170 billion dollars, while only 30 percent of them takes place in Europe.
FIFA, who wants to assess the potential of the United States in this field, is ready to create an electronic money targeting five billion football fans. Trump approached this advice with interest and said, it could really be a large amount of money.
Trump's words have raised doubts
After opening this door, not directly related to cryptocurrencies, Trump appeared on stage with a more familiar discourse targeting cryptocurrencies. Never sell your Bitcoin, Trump repeated a famous cryptocurrency spell, said he was not sure that these words were correct.
This statement created a question about Trump's sincerity about cryptocurrencies. Doubt increased whether he used a rhetorical measure to satisfy the crowd, or whether he had a clear view of this field.
The name from the cryptocurrency industry has tried to talk, but ignored
Part 20 minutes of the summit was opened for the media with a lot of thanks to Trump. Investors and cryptocurrencies David Sacks resolved Trump and said, we are here because you love innovations – or in your words, high IQs. According to him, US Finance Minister Scott Bessent, Minister of Commerce Howard Lutnick, Chairman of the small business administration Kelly Loeffler, and the House of Representatives, most of the Whip Tom Emmer has been on the floor.
However, the leading names of the cryptocurrency industry were forced to find opportunities to speak. CEINBASE CEO Brian Armstrong was ignored in an attempt to go on the floor even though Trump was right next to him. Instead, the sack promises one of the twins Winklevoss (not remembered). One of the twins joked that he thought he was more likely to stay in prison rather than in the White House a year ago.
When Trump asked again, Armstrong raised his hand. However, this time, the favorite name is Sergey Nazarov, the founder of Chainlink and Armstrong were overlooked.
The uncertainty in the cryptocurrency community
CEO participating in the summit is often separated from operation with an optimistic atmosphere. CEO Coinbase Brian Armstrong, founder of MicroStrargety Michael Saylor and Winklevoss Gemini, as Washington's cryptocurrency policy may have a more positive attitude of signals. However, this optimism is not shared by a larger cryptocurrency community due to the limited content described to the public.
Although people do not know exactly what is said behind the closed door, the summit is still a different event with high expectations, especially for individual investors. The participation of Trump and the hope of making important explanations for cryptocurrency policies in the event were wasted.
Market impact is still below the expected level
Crypto investors hope Trump's statements at this event will have a positive impact on the market. However, according to a report prepared by Bybit and Block Scholes, some electronic prices increased after the announcement of Trump's cryptocurrency strategy reserves increased, but the sponsorship rate remained unchanged and did not reach excess. This shows that the market has found Trump's explanations but incomplete, but expects a clearer rule.