Coinbase, Chainlink, and Other Companies Participate in Trump’s Crypto Summit
A surprising event is casting its shadow: It’s not Elon Musk, often in the public eye, but former US President Donald Trump inviting the crypto industry to a summit in Florida next week. On the guest list are prominent representatives of the crypto scene, such as Coinbase and Chainlink. Media reports suggest that Donald Trump meets the crypto industry on October 11 in his Mar-a-Lago estate. Addressed are both leaders of exchanges like Coinbase and larger DeFi projects like Chainlink.
The focus of the meeting is to break down prejudices and foster understanding between politicians and the crypto industry. Trump intends to show himself as a supporter of the idea that the regulatory framework of the US for crypto must be innovation-friendly. This would also send a signal to potential voters for the upcoming 2024 presidential elections. Trump himself had repeatedly made negative comments about Bitcoin during his presidency, but it seems the industry’s lobbying could have cleared some misconceptions.
Particularly at risk from US regulations is Coinbase, the leading American crypto exchange, facing legal actions from the Securities and Exchange Commission (SEC). CEO Brian Armstrong is described as eager to engage in discussions at the summit. Chainlink, on the other hand, sees its role as a mediator between blockchain and established business sectors. The topic of stablecoins and corresponding regulations is also on the agenda.
The extent to which Donald Trump will be directly involved in the crypto summit is not yet clear. However, the guest list of influential crypto personalities and representatives makes the event significant. It shows that a political rethink towards regulating the crypto markets might be taking place in the US. For Donald Trump, being less dismissive of the potential of Bitcoin & Co also represents a strategic move in domestic policy.
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