What to expect from the White House's crypto summit

Fri, Mar 7, 2025, 4:00 AM

"I think the [Trump] administration has made some positive moves here," Kovacevich says, highlighting the "really positive": Trump's crypto czar David Sacks, the summit, and "most importantly" the Securities and Exchange Commission (SEC) dropping some of its lawsuits against the likes of Coinbase Global (COIN) and Robinhood (HOOD).

Kovacevich says the summit could focus on potential regulation or the strategic crypto reserve, among other things.

Also catch Nobel Prize-winning economist Paul Krugman weigh in on whether the US even needs a strategic crypto reserve.

00:00 Speaker A

I know you have several partners within the crypto space. I'm I'm curious what you're hearing from them and how optimistic they are about some of that clarity that we could gain.

00:15 Speaker B

Well, look, I'm a pro crypto Democrat. I found the Biden administration's approach to crypto to be unnecessarily hostile. I think the administration has made some positive moves here, right? Naming David Sachs as cryptozar, holding this summit tomorrow, most importantly, the SEC dropping some of its lawsuits against companies like Coinbase and Uniswap. That's all really positive. I think at the same time, there's been news, you know, like a focus on the Trump family focus issuing meme coins. That's a bit of a distraction. It's nowhere close to the most vital application of crypto. And I think, you know, that's a concern. Frankly, the most important thing that needs to happen in crypto is that Congress needs to pass clear rules. There's bills that are bipartisan around stable coins and market structure, putting clear consumer protection rules, and we should pass those. And so I think that like that's really what we, you know, I hope we focus on. We'll see what comes out of the summit tomorrow. There's some questions about what this reserve fund might look like. We'll see.