White House Digital Asset Summit: The Great and the Good of Crypto Convene to Strategize US Dominance

President Trump hosted a historic Crypto Summit at the White House on March 7th, marking the first event of its kind aimed at engaging cryptocurrency industry leaders and shaping U.S. digital asset policy.

The summit, held in the State Dining Room, brought together prominent figures from the crypto world, administration officials, and lawmakers to discuss Trump’s vision of making the United States the “crypto capital of the world.”

Attendees included notable industry leaders such as Coinbase CEO Brian Armstrong, MicroStrategy’s Michael Saylor, Robinhood’s Vlad Tenev, Ripple’s Brad Garlinghouse, Gemini founders Cameron and Tyler Winklevoss, and Zach Witkoff of World Liberty Financial, a Trump-associated crypto venture. Key administration figures like Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and White House AI and Crypto Czar David Sacks also participated.

Strategic Reserve

A central focus was his recently signed executive order establishing a Strategic Bitcoin Reserve and a broader U.S. Digital Asset Stockpile, which would retain seized cryptocurrencies like Bitcoin and potentially include others such as Ethereum, Solana, XRP, and Cardano.

Trump opened the summit with remarks praising the attendees as “high-IQ individuals” and pioneers, emphasizing the economic potential of digital assets. He highlighted the reserve as a “digital Fort Knox,” intended to store value using seized Bitcoin—estimated at 200,000 coins—without selling it, a policy shift from past government practices.

The agenda centered on two main goals: establishing regulatory clarity for the crypto industry and fleshing out the mechanics of the strategic reserve. Trump expressed optimism about passing crypto-friendly legislation before Congress’s August recess, while Sacks described the administration’s rapid moves as operating at “tech speed,” a departure from what he called the prior “persecution” of the industry.

Discussions reportedly included stablecoin regulation and market structure reforms, though much of the detailed talks occurred off-camera. Treasury Secretary Bessent underscored maintaining the dollar’s reserve currency status, potentially leveraging stablecoins, while attendees debated whether the reserve should focus solely on Bitcoin or encompass a multichain approach.

Brian Armstrong, Coinbase CEO

Brian Armstrong’s perspective on the summit reflects a mix of appreciation and strategic focus.

Ahead of the event, he told CNBC his primary goal was to thank Trump for advancing the U.S. as a crypto hub, stating, “I think he’s lived up to that campaign promise so far, and we’ve seen a lot of work getting done here in a positive way.” Armstrong, whose company Coinbase played a significant role in the 2024 election by directing $250 million toward pro-crypto candidates, saw the summit as a validation of the industry’s political influence.

He emphasized the urgency of passing new legislation, particularly around stablecoins and market frameworks, as the next critical step. Posts on X suggest Armstrong attended but may not have spoken prominently during the public portion, with some users noting a lack of standout remarks from him.

However, his prior comments indicate he viewed the event as a constructive step toward regulatory clarity, even if he had previously advocated for a Bitcoin-only reserve rather than a broader multichain stockpile.

Overall, the summit was a high-profile signal of Trump’s pro-crypto stance, though some observers on X expressed disappointment at the lack of groundbreaking announcements. For Armstrong, it appeared to be a promising, if incremental, move toward his long-term goal of a supportive legislative environment for digital assets.