The post Trump’s crypto summit: Fleeting gains or lasting change? appeared on BitcoinEthereumNews.com.

This is a segment from the 0xResearch newsletter. To read full editions, subscribe. The much-hyped Trump crypto summit turned out to be a textbook PR exercise — big on optics, light on substance. While some viewed the event as a watershed moment, the reality is that we’re still very much in wait-and-see mode. Yes, it represents a break from the past administration’s overt hostility to crypto, but we knew that already. The US government is not buying your bags — nor should it — but it’s also not buying someone else’s bags — maybe a positive outcome? Net net, as Impossible Cloud Network co-founder Kai Warwzinek bluntly put it: “While promising great change for crypto, the US president delivered almost nothing.” The market got the message, and prices fell sharply in response. Avi Feldman and Jonah Van Bourg from the 1000x podcast were flipping bearish in real time, describing the session as an opportunity for “obsequious fawning” where attendees took turns “kissing the ring” of President Trump. For those hoping that crypto’s political status in the US has fundamentally changed for the long term, the partisan nature of the embrace should be a red flag. There may be tangible progress stemming from Trump’s rhetorical shift, including an apparent end to Chokepoint 2.0, a friendlier stance toward stablecoins, a vague nod to crypto at the Small Business Administration — this is all welcome. But to the extent the president sees this as an opportunity to make crypto a Republican issue, the relief could be short-lived. Without real legislative progress in the next two years, most anything can be reversed just as quickly if Democrats retake power. And given the current state of left-leaning discourse on crypto, that’s exactly what would happen. The left isn’t getting any sense of crypto’s utility or…

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Filed under: News - @ March 10, 2025 5:25 pm