Wearing tuxedos and luxury goods, one of the most famously dressed-up industries celebrated in Washington on Friday night at the “Crypto Ball” to welcome the incoming administration of President-elect Donald Trump. Crowds of digital asset insiders threaten the legitimacy of the United States, which believes this industry will lift their sector.
Big names in the crypto world, including Michael Saylor, Brian Armstrong, the Winklevoss brothers, and Jesse Powell, as well as future senior officials in the incoming administration, especially David Sachs, whom President Trump nominated as crypto czar, have joined Andrew W. They gathered in Mellon Auditorium. They sipped cocktails and downed truffled tuna tartare while watching a performance by rapper Snoop Dogg and, perhaps more importantly for their prospects in Washington, a visit from House Speaker Mike Johnson.
One attendee said, “Overall an insane event with traditional Silicon Valley VCs in attendance and 50/60% of the world’s crypto investor and founder leadership in attendance.” said. “We also have a lot of policy makers with senior leadership like Mike Johnson.”
This event signals a dramatic turnaround in the fortunes of the crypto industry in Washington. “Make Bitcoin Great Again” red hats were handed out at the event, and attendees were encouraged to see closer ties between the new administration and the new Congress, with policies establishing digital assets as a full-fledged part of the regulated United States. We hope that it may eventually be strengthened. financial sector.
With President Trump already benefiting from many big-spending campaign supporters, U.S. technology companies, including crypto companies, are using the inauguration as another way to show financial support for the new administration. Used donations. Cryptocurrency companies such as Coinbase, Ripple, Kraken, and Circle made significant contributions to President Trump’s inaugural committee, helping to raise its total to record levels. Some of the same companies are on Cryptoball’s sponsor list.
The four-hour event, advertised with ticket prices varying from $2,500 to $5,000, was billed by a spokesperson as an “exclusive social event,” with outside reporters attending CEOs and founders. He was forbidden to join the crowd.
The government auditorium, surrounded by a neoclassical building that houses the headquarters of the Environmental Protection Agency, is home to the signatures that led to the birth of the North Atlantic Treaty Organization and President Bill Clinton’s signing of the North American Free Trade Agreement. It is the same historical space where the event took place. These have been harshly criticized by the president-elect). On Sunday, a pre-inauguration party will be held at the venue, sponsored by the conservative news company Newsmax.
By Monday, Trump will be sworn in as president. Although the ceremony was held indoors due to forecasts of even colder temperatures than the day Barack Obama first took the same oath, President Trump’s crypto supporters quickly announced a slew of executive orders and They are betting on the presidential race, expecting appointments to come. The industry is building stronger relationships with the U.S. government.
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