'Inaugural Crypto Ball' for Trump Before White House Inauguration
The crypto sector has gone all out to lure Donald Trump since before his campaign began last year.
Apart from the sector's contribution to his election fund, crypto honchos are donating heavily to his inaugural fund.
Ahead of his inauguration, on January 17, the business community will gather in Washington, DC, to show their support for the new government with the "Inaugural Crypto Ball."
David Bailey's BTC-organised advocacy group, 'Stand with Crypto,' which receives funding from Coinbase, Anchorage Digital, Exodus, a Bitcoin wallet provider, and Kraken, is organising the event.
Cryptocurrency wallet MetaMask, asset manager Galaxy, and cryptocurrency exchange Coinbase are among the other sponsors.
At a convention in Nashville that Bailey had organised in July, Trump gave a stirring speech to Bitcoin believers.
Back then, it was dubbed as "48 Hours at the MAGA-fied Crypto Lovefest."
The "Inaugural Crypto Ball" is expected to rouse a similar interest and crowd, with crypto leaders expected to line up to get access to Trump as his inauguration day nears.
The clamour for access to Trump is his new administration's planned crypto advisory council.
Fewer than two weeks remain until Trump's inauguration, and crypto business leaders are already vying for meetings with the president and positions on an anticipated crypto advisory group.
Industry insiders plan to use the council to shape the next administration's digital-asset policies. Approximately twenty CEOs and founders could join the group.
Most probable appointees have prior connections to Trump and have met with him multiple times in the past few months.
Trump and his close circle—including David Sacks, who will be the next chief technology officer and crypto czar at the White House—are still considering nominees.
Since Trump's reelection in November, Mar-a-Lago has welcomed a constant flow of digital currency aspirants.
The CEO of Crypto.com, Kris Marszalek, met with President Trump at Mar-a-Lago last month to discuss appointments in the crypto industry and regulations.
A source said that earlier last week, Trump had dinner with Brad Garlinghouse and Stu Alderoty, during which they talked about the industry as a whole and the SEC's action against the company.
Coinbase Global CEO Brian Armstrong — the biggest US crypto exchange — met with Trump in the past few weeks.
The president-elect's inaugural committee has received $1 million in pledges from Coinbase, Kraken, a competitor exchange, and Ondo, a startup.
Deciding to contribute $5 million worth of XRP coins was Ripple's stated goal in December.
Joining a long line of CEOs competing for favor as the new administration seeks to establish a crucial crypto industry group, Circle CEO Jeremy Allaire announced Thursday that the stablecoin company had donated tokens valued at $1 million to President-elect Donald Trump's inaugural committee.
Circle has contributed 1M USDC to President Trump's Inaugural Committee. We are excited to be building
— Jeremy Allaire - jda.eth / jdallaire.sol (@jerallaire) January 9, 2025
a great American company, and the fact that the Committee took payment in USDC is an indicator of how far we have come, and the potential and power of digital dollars.
The first-ever Crypto Ball will be hosted by the recently appointed AI and Crypto Czar, David Sacks, and attended by numerous prominent figures in the sector.
The industry is looking to Sacks for more crypto-friendly legislation when Donald Trump enters office on January 20.
The tickets for the exclusive VIP reception are currently priced at $100,000 each.
A $1 million option is also available for individuals who want the best experience possible.
This includes four reception tickets and one ticket to a future dinner with President Trump. At the Inaugural Crypto Ball, prominent figures in the cryptocurrency business will undoubtedly make a stronger impression on lawmakers in Washington, DC.
By implementing favourable regulations to the cryptocurrency industry, the Trump administration is shaping up to be the most crypto-friendly in history.
A complete revision of financial legislation is expected to be one of the measures taken to address the sector's top concerns.
As the go-to person for the Trump administration and the cryptocurrency sector, crypto czar David Sacks will play a pivotal role in shaping crypto policy.
Some in the market think he might be pivotal in easing too burdensome rules and establishing policies that would let the cryptocurrency sector work in tandem with more conventional financial institutions.
A strategic Bitcoin reserve in the United States may also be established in this manner.
In addition, Paul Atkins is also set to succeed current US SEC Chair Gary Gensler later this month, so excitement over the reserve is at an all-time high.
Along with Donald Trump's inauguration, these are some of January's most anticipated crypto events.
The industry and White House lawmakers will closely monitor the first big crypto event. This would go a long way toward fulfilling Trump's goal of establishing the United States as the global leader in cryptocurrency.
Elsewhere
Events
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