In tuxedos and finery, one of the most casual industries celebrated Friday evening with a “Crypto Ball” in Washington to welcome the new administration of President-elect Donald Trump, whom the digital asset insider crowd trusts to raise its sector. in American legitimacy.
Big names in crypto, such as Michael Saylor, Brian Armstrong, the Winklevoss brothers and Jesse Powell, and future officials from the new administration, including Trump’s crypto czar pick David Sacks, mixed in the Auditorium Andrew W. Mellon. As they drank cocktails and downed truffle tuna tartare, they took in a performance by rapper Snoop Dogg and – perhaps more significantly for their Washington hopefuls – a visit from House Speaker Mike Johnson.
The event marks a dramatic rise in the fortunes of the crypto industry in Washington. With red “Make Bitcoin Great Again” hats handed out at the event, attendees are counting on a close relationship with the new administration and the new session of Congress that could finally cement the policy to establish digital assets as a separate party entire American regulation. financial sector.
US tech companies – including crypto companies – have used inauguration contributions as another way to show financial support for the new administration after Trump already benefited from a number of high-profile campaign supporters value. Crypto companies including Coinbase, Ripple, Kraken and Circle have made major contributions to Trump’s inaugural committee, helping to push its total to record levels. Some of these same companies are on the Crypto Ball sponsor list.
The four-hour event, which was advertised at various advertised prices of $2,500 and $5,000 for tickets, was billed by a spokesperson as an “exclusive social event,” and outside press did not not allowed to join the crowd of CEOs and founders.
Nestled among the neoclassical buildings that house the headquarters of the Environmental Protection Agency, the government auditorium is the same historic space that saw the signings that gave birth to the North Atlantic Treaty Organization as well as the signing by President Bill Clinton of the North American Free Trade Agreement (both of which are heavily criticized by the new president). On Sunday, the venue will also host the inauguration party hosted by conservative news provider Newsmax.
By Monday, Trump will be sworn in as president. That ceremony, moved indoors due to forecasts of even colder temperatures than the day Barack Obama first took the same oath, is expected to be quickly followed by a barrage of executive orders and appointments that they say will will put the industry on firmer footing with the US government.
Read more: Bitcoin Interrupts Downtrend, Hits $105,000 as Anticipation Builds for Trump Inauguration
