There was no bigger enemy of digital currencies than the Biden Administration and SEC Chairman Gary Gensler. Both are considered "Enemy Number One and Enemy Number Two" in the crypto industry.
There's a new digital sheriff in town and President Donald J. Trump is now considered to be America's First "Crypto Commander in Chief."
This was quite evident when I spent time with some of the crypto industry's titans before President Trump's inauguration.
I found myself in shock at the galvanized effort President Trump assembled for his second term. Last night, I attended the much-anticipated and first-ever Crypto Inaugural Ball, which will go down as one of the greatest ever hosted in D.C.
As we move into a future dominated by digital currency, it's worth noting the stark contrast between the outgoing administration's stance and the incoming one. The new administration has pledged to create a multi-billion-dollar reserve in Bitcoin, a move praised as visionary, promising benefits for generations to come.
Friday night's event gathered titans and moguls from the crypto world. Among the attendees, I spoke with Gary Cardone, a mega crypto investor and backer. He remarked, "If you are not buying and holding Bitcoin, you aren’t paying attention." His words highlighted the enthusiasm and optimism surrounding the event.
One can only hope that New York State gets behind this movement, stops sanctioning crypto mining, and creates an environment that welcomes new companies. This would allow New Yorkers to join the global future of digital currency. Recently, Tether announced it would open its headquarters in El Salvador instead of New York City, citing the state's hostility toward crypto entrepreneurs. In a brief exchange with Tether’s CEO, he thanked me for a post I made on X (formerly Twitter) about their announcement. I, in turn, thanked him for his visionary leadership.
For those wondering about the caliber of guests at the event supporting President Trump’s return, notable attendees included Donald Trump Jr., Gary Cardone, Kimberly Guilfoyle, Jackie Siegel with her twin daughters, Eric Trump, and Snoop Dogg, to name a few. The event culminated in a blend of mainstream celebrities, tech industry leaders, and political influencers we all "adore and love."
This event was certainly a good barometer for what to expect in the next four years regarding innovation and the crypto industry.