Trump’s first Crypto Summit has attendees ready to push for regulation

Now that President Trump has announced plans for a Strategic Bitcoin Reserve, crypto industry leaders can focus on what else they want to hear from the new administration on Friday.

Just over six weeks into his second White House term, Trump is hosting his first Crypto Summit, a nod to an industry that played a major role in his election victory in November. No executive was more central to that effort than Coinbase CEO Brian Armstrong.

Once a Silicon Valley entrepreneur focused on onboarding the world to digital assets, Armstrong has spent the last year transforming himself into crypto’s ambassador in Washington, D.C., funneling millions into elections, building alliances, and ensuring the digital currencies market has a seat at the table.

“My goal in attending this is really just, first of all, to thank President Trump for helping make the United States the crypto capital of the world,” Armstrong told CNBC ahead of the meeting. “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.”

Joining Armstrong at Friday’s summit, which is being led by White House AI and Crypto Czar David Sacks, will be Strategy Chairman Michael Saylor, Robinhood CEO Vlad Tenev, and Chainlink’s Sergey Nazarov, among others. They’re planning to discuss digital asset regulation as well as the mechanics of the Strategic Bitcoin Reserve, which Trump announced late Thursday by way of executive order.

Armstrong, whose company helped the crypto sector raise and direct $250 million into the 2024 election cycle, outpacing Wall Street banks and the oil industry, has been instrumental in shaping the new administration’s approach to digital assets. Crypto’s push to unseat opposition lawmakers and install pro-crypto candidates paid off handsomely, flipping key seats and cementing the sector as a major political force in Washington.

Several million dollars were funneled directly to Trump’s campaign and inaugural fund, a sign of just how much was riding on his victory.

At Friday’s summit, Armstrong says his top priority will be pushing forward new laws.

“From our point of view, the next step in the United States that’s the most urgent is getting legislation passed,” he said. He specifically pointed to stablecoin regulation and broader market structure reforms.

Momentum for regulatory clarity is already shifting in crypto’s favor. The Senate this week voted, with strong bipartisan support, to overturn two Biden-era regulations that the industry opposed. Sen. Ted Cruz, R-TX, called the wins a gateway for more comprehensive legislation.