The industry has mixed reactions to the White House's first cryptocurrency summit

FOX Business reporter Eleanor Terrett wrote that investors and industry observers had hoped to hear specific plans from the Trump administration at last Friday's inaugural White House cryptocurrency summit on making the United States a 'capital of cryptocurrency'. However, the content of the summit was still vague with mixed reactions.

Despite this, participants generally felt positive about the atmosphere of the meeting and were optimistic about more regulatory clarity from government in future.

Former CFTC Chairman Christopher Giancarlo commented: "This summit is clearly a way for this administration to open its arms to welcome this industry. It's their way of saying 'you've been persecuted, now we celebrate you'." Ripple CEO Brad Garlinghouse bluntly stated that two administrations have completely different attitudes towards cryptocurrencies: "The Biden administration wants us in jail while Trump's administration invited us directly into White House."

The meeting was hosted by Sacks and Hines in East Wing State Dining Room at White House. Beforehand, guests also had an informal cocktail party with government officials. However, some officials such as acting Comptroller of Currency Rodney Hood only attended cocktail party but did not participate in formal meeting.