White House Crypto Summit: Everything We Know So Far

Friday’s White House crypto summit could end up being one of the most consequential days in this industry’s history.

And given the huge uncertainty surrounding Trump’s planned reserve of digital assets, the four-hour gathering is likely to spark a lot of volatility.

Let’s take a look at what we know so far.

Who’s Going?

Reports suggest that it’s going to be quite an exclusive meeting, and about 25 invitations have been sent out.

Strategy’s executive chairman Michael Saylor will be there, along with Coinbase CEO Brian Armstrong.

But it seems like there are some notable omissions from this list, including Cardano founder Charles Hoskinson. He said:

“We were told there would be a list that comes out on Monday. We did not get an invitation on Monday, we did not get an invitation on Tuesday, we did not get an invitation on Wednesday. So — I’m going to operate under the assumption I have not been invited to this gathering.”

Hoskinson revealed that he wasn’t even told of Trump’s plans to include ADA in his crypto reserve — and found out after waking up to “150 messages saying ‘congratulations’ and ‘great job.'”

Several senior officials from the administration, including White House crypto czar David Sacks and Treasury Secretary Scott Bessent, are also expected to be in the room.

Saylor ended up giving a pretty uncomfortable interview to Fox Business on Wednesday, when he was pressed on whether altcoins should also feature in the reserve. The billionaire had to walk a careful tightrope between arguing it should be Bitcoin only — and not disrespecting the president. He said:

“I think the emerging consensus in the industry is that Bitcoin should be the element in a strategic reserve over the long term for the country. But if you want to support various investments in a sovereign wealth fund, that would be up to the executive branch … The important thing to keep in mind is Bitcoin is the one universally agreed upon foundational asset in the entire crypto economy because it’s the asset without an issuer.”

What Will Be Announced?

In a statement, the White House expressed hope that the summit will further its goals of “providing a clear regulatory framework, enabling innovation, and protecting economic liberty.”

But reports suggest there could be a significant announcement relating to the “crypto strategic reserve” that the president announced on Truth Social.

Rewinding back to last year, Trump had campaigned on a pledge to ensure the 198,000 BTC that the U.S. has seized from criminals wouldn’t be sold — and instead, it would be held on behalf of taxpayers as an investment.

Bitcoiners loved that policy, and it received a raucous reception when it was announced at the Bitcoin 2024 conference in Nashville.

Trump’s hasty social media post last weekend proposed something different — and said ETH, XRP, SOL and ADA would also be included in the reserve.

But it now seems yet another U-turn is on the cards.

Commerce Secretary Howard Lutnick has been quoted as saying that a strategic Bitcoin reserve is going ahead and that it “is something the president’s interested in,” telling The Pavlovic Today:

“He spoke about it all during the campaign trail, and I think you’re going to see it executed on Friday.”

Lutnick added that the other four cryptocurrencies mentioned in that Truth Social post will end up being “treated differently — positively, but differently.”

How Will the Markets React?

Any reserve announcement that diverges what Trump previously revealed on social media will send shockwaves through the markets.

A Bitcoin-only reserve would likely send the world’s biggest cryptocurrency through the roof — and potentially past $100,000 once again.

It would also be nothing short of calamitous for the four other altcoins that were previously in the running.

XRP, SOL and ADA could end up handing back the eye-popping gains made last Sunday — with Cardano’s token surging more than 60% at one point.

As the summit nears, it’s worth keeping a close eye on what World Liberty Financial — the crypto firm set up by the Trump family — is up to.

Data from Nansen suggests it snapped up $10 million in ETH and $10 million in Wrapped Bitcoin late on Wednesday, along with $1.5 million of MOVE tokens.

Arkham Intelligence figures suggest the company’s holdings now stand at $79.3 million. Of that, $16.25 million is denominated in Ether, with $14.8 million in WBTC and $13.3 million in the USDC stablecoin.

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