President Donald Trump addressed the Blockworks Digital Asset Summit, marking the first time a sitting US president has spoken at a crypto event. His remarks reaffirmed support for stablecoins and a pro-crypto regulatory shift.
Trump Becomes First US President to Address a Crypto Conference
President Donald Trump has made history by becoming the first sitting US president to speak at a crypto conference. In a pre-recorded message at the Blockworks Digital Asset Summit on March 20, he pledged support for the industry, stating his administration aims to make the US the “crypto capital of the world.”
Trump praised recent regulatory shifts and emphasized the role of digital assets in enhancing the banking system, privacy, security, and economic growth. He also highlighted the importance of stablecoins, stating they would help maintain the dominance of the US dollar globally.
His administration has taken multiple pro-crypto steps, including signing executive orders to establish a Bitcoin strategic reserve and commission the Working Group on Digital Assets.
Mixed Reactions to White House Crypto Summit
Earlier this month, Trump also hosted the first-ever White House Crypto Summit on March 7, where industry leaders discussed the future of crypto regulation. Treasury Secretary Scott Bessent emphasized the need for stablecoin regulation, positioning them as key to preserving the dollar’s global reserve status.
At the Blockworks event, Bo Hines, executive director of the Council of Advisers on Digital Assets, revealed that a stablecoin bill could reach Trump’s desk within two months.
Despite the historic nature of these developments, reactions have been mixed. Institutional investors saw them as a positive step, while retail investors and Bitcoin advocates were less enthusiastic. Bitcoin maximalist Justin Bechler criticized the summit as a platform for “rent-seeking lobbyists pushing surveillance tokens.”
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Following these events, Bitcoin’s price dropped by 7.3%, reflecting uncertainty around government involvement in the industry.
