Crypto enthusiasts in Washington, D.C., celebrated President Trump’s re-inauguration with the Crypto Ball, reflecting a marked shift from the previous administration’s stance on cryptocurrency. The event saw prominent figures, including Donald Trump Jr. and House Speaker Mike Johnson, mingling with crypto executives. President Trump and the First Lady introduced meme coins, echoing a broader acceptance and potential financial gains from the crypto resurgence. This turnaround contrasts starkly with the Biden administration’s crackdown on the crypto sector after notable meltdowns, such as FTX’s collapse. Crypto industry leaders expressed relief at the renewed favor, with Coinbase’s CEO, Brian Armstrong, describing the shift as removing a “boot off our throat.” Trump has taken steps to bolster cryptocurrency, including forming a regulatory framework and appointing David Sacks as White House AI and crypto czar. Investments by Trump Media & Technology Group further underline this commitment. Despite some skepticism about meme coins, the overall sentiment in Washington has become significantly more crypto-friendly, promising legislative progress and greater integration of digital assets into the economy.
