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From Tuxedos to Bitcoin: The Crypto Industry Celebrates Trump’s Incoming Administration
Crypto Ball in Washington: A Night of High Hopes and Big Bets on Trump’s Policies
Will Trump’s Presidency Validate Crypto? Insiders Gather at Exclusive Crypto Ball
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Crypto Industry Rolls Out the Red Carpet for Trump’s Second Term
In tuxedos and formal wear, one of the most famously laid-back industries celebrated Friday night with a “Crypto Ball” in Washington to welcome the incoming administration of President-elect Donald Trump, which the crowd of digital-asset insiders believes will help elevate their sector to full legitimacy within the U.S. financial system.
High-profile figures in the crypto world, such as Michael Saylor, Brian Armstrong, the Winklevoss twins, and Jesse Powell, mingled with incoming administration officials, including Trump’s crypto czar pick, David Sacks, at the Andrew W. Mellon Auditorium. The event featured cocktails, truffle tuna tartare, and a performance by rapper Snoop Dogg. Perhaps even more crucial for their Washington ambitions, Speaker of the House Mike Johnson made an appearance. “Overall, it was an insane event with legacy Silicon Valley VCs in the room, along with what I would dare say was 50-60% of global crypto investor and founder leadership,” said one attendee. “There were also a lot of policymakers in attendance, including senior figures like Mike Johnson.”
The event marks a dramatic shift in Washington’s stance on the crypto industry. Red “Make Bitcoin Great Again” hats were spotted, and attendees are hopeful for a close relationship with the incoming administration and Congress. They believe this could finally bring about policies that will officially integrate digital assets into the regulated U.S. financial sector.
U.S. tech firms, including crypto companies, have used inauguration contributions to show financial support for the new administration after Trump received significant backing from large-dollar campaign donors. Crypto businesses like Coinbase, Ripple, Kraken, and Circle have all made substantial contributions to Trump’s inaugural committee, helping boost its total to record levels. Some of these companies were also listed as sponsors of the Crypto Ball.
The four-hour event, with tickets priced at $2,500 and $5,000, was described by a spokesperson as an “exclusive social gathering,” with the press barred from entering and interacting with the high-profile crowd of CEOs and founders.
Set among the neoclassical buildings housing the Environmental Protection Agency headquarters, the Andrew W. Mellon Auditorium is a historic space, where both the founding of NATO and President Bill Clinton’s signing of the North American Free Trade Agreement (both of which are widely criticized by the incoming president) took place. On Sunday, the venue will also host the inauguration-eve party organized by conservative news outlet Newsmax.
By Monday, Trump will be sworn in as president. Due to freezing weather forecasts, the ceremony has been moved indoors. However, Trump’s crypto supporters expect that the event will quickly be followed by executive orders and appointments that they hope will place the crypto industry on firmer ground with the U.S. government.
