White House has announced it will host first ever crypto summit on March 7

Trump is set to deliver remarks at a gathering that will bring together “prominent founders, CEOs, and investors from the crypto industry, along with members of the president’s Working Group on Digital Assets,” the White House announced in a statement Friday night.

The summit will be led by venture capitalist and White House crypto czar David Sacks, with working group executive director Bo Hines overseeing its administration, according to the statement.

Shortly after taking office, Trump signed an executive order establishing the working group, composed of key agencies tasked with advising the White House on digital asset policy and assessing the feasibility of a national crypto stockpile.

The group includes officials from the Treasury and Justice Departments, the Securities and Exchange Commission, and the Commodity Futures Trading Commission.

During his 2024 campaign, Trump—who had once dismissed cryptocurrency as a “scam”—pledged to streamline regulations, appoint pro-crypto figures to key regulatory positions, support a stablecoin framework, and build a Bitcoin (BTC-USD) reserve. Following his election, the crypto industry poured millions into his inaugural committee.

While not all of these promises have been realized, the administration’s approach—along with the upcoming summit—marks a significant departure from the Biden administration’s stricter stance on digital assets in the wake of FTX’s collapse and other industry scandals. Trump has also personally entered the crypto space, launching a memecoin before returning to office and endorsing a project spearheaded by his sons, World Liberty Financial.

“The administration is committed to establishing a clear regulatory framework, fostering innovation, and protecting economic liberty,” the White House added in its statement.