Overnight skyrocketing 20%! Trump is sending a big signal, the crypto market is crazy
Source: Trump's White House speech compilation: Odaily Planet Daily Original title: What did Trump say on the night of the cryptocurrency explosion? The White House organized a “Cow Comes” show! Core point of view: At the White House cryptocurrency industry executives gathering, Trump explained the results of his administration's policies to promote the development of digital assets, emphasized America's position as a global leader through executive orders, legislation, and regulatory reforms, and called on Congress to pass the CLARITY Act to strengthen competitive advantage. Key elements: 1. Participants included SEC Chairman Paul Atkins, CFTC Chairman Michael Selig, and executives such as Coinbase, Robinhood, and Ripple, highlighting the trend of cooperation between the industry and the government. During the conference, BTC once surpassed 70,000 US dollars, ETH rose nearly 20%, and the market response was positive. 2. Trump announced the dismissal of former SEC Chairman Gary Gensler, terminated “Operation Blockpoint 2.0,” and signed an executive order banning CBDC and launching “Project Crypto” to reform the rules. 3. The government establishes US strategic Bitcoin reserves and digital asset reserves to use Bitcoin as a permanent asset of the Treasury; the “GENIUS Act” paves the way for widespread adoption of US dollar stablecoins. 4. The CFTC approved the first Bitcoin perpetual futures contract and promoted Hyperliquid compliance into the US, showing the gradual implementation of the regulatory framework. 5. Trump criticized the high interest rate policy, arguing that interest rates should be cut to support growth when economic data is strong; he emphasized that the fintech revolution has created jobs and wealth, and that the stock market has reached 80 new highs in a year and a half. 6. He called on Congress to pass the “CLARITY Act” as market structure legislation to ensure that the US continues to lead competitors such as China in the fields of encryption and AI. Editor's note: In the early morning of August 20, Beijing time, the White House held a meeting of cryptocurrency industry executives. Trump himself attended and delivered a speech. Government executives such as SEC and CFTC, industry representatives from Robinhood, Coinbase, Ripple, Gemini, a16z, etc., and senior traditional finance executives such as the Intercontinental Exchange and NASDAQ all attended the conference. Perhaps influenced by this positive signal, the cryptocurrency industry soared at night. At one point, BTC broke the $70,000 mark, and ETH rose close to 20%. Below is Trump's own statement on his speech at the conference. Seriously, a group of important people came to the scene today. If you love the world of finance as much as I do — I really love finance — all of you here today are big names in the financial world. It's incredible that you might not know some of them, but anyone in the financial world should know every one of them. Thank you so much for being here today. We're excited to welcome some of America's best talent in finance, cryptocurrency, and technology. In Washington, D.C., we are about to welcome the first meeting of the US Commodity Futures Trading Commission (CFTC) Innovation Advisory Committee (Innovation Advisory Committee). It's a committee of very smart people who will give us suggestions and tell us what we should do. Right, Paul (referring to SEC Chairman Paul Atkins)? They'll tell us a few things. But I think Paul probably knows these issues better than anyone else, and he did a great job. We're very happy with Paul, and I think everyone thinks the same. He's really amazing. From the cryptocurrency market and prediction market, to traditional finance, to decentralized finance, the people in this room are making sure that the future of the commercial market can be created and improved here in the US. We are competing with many other countries for control of these markets, market share, and the profits, jobs, and everything else they create. And we did a great job. We are leading the way in every aspect, including artificial intelligence, and by a huge margin. We want to continue this lead. I would like to thank CFTC Chairman Michael Selig for his outstanding leadership. (Find someone first) Michael, come over... (Then suddenly found him around) Why am I so close that I almost didn't recognize you. At the same time, I would like to thank a very special person, someone who has been respected by everyone for a long time. I would have liked him to take this role — I wanted him to do this job before he became SEC chairman. Paul Atk...