The White House held its first-ever Crypto Summit on Friday, bringing together top executives from various digital asset companies to discuss President Donald Trump’s administration’s commitment to rolling back aggressive regulations imposed by the previous administration. However, some crypto executives were disappointed by the lack of more active support for the industry, causing the prices of the assets to plummet in Friday’s trading.
According to nbcnews, on Sunday (3/9/2025), the price of bitcoin dropped by about 3% in afternoon trading and is expected to end the week with a 7% decline to USD 87,000. The less enthusiastic response was triggered on Thursday night when Donald Trump and White House Crypto and AI Executive David Sacks announced that the president had signed an order to create a “Bitcoin Strategic Reserve.”
Although this action had been aggressively advocated by the crypto community, the order indicated that the reserve would only include current bitcoin holdings previously seized by federal law enforcement agencies. Separate digital asset stocks will also be created to hold non-bitcoin digital tokens, such as ethereum and ripple, which have also been seized in law enforcement processes.
