From regulatory games to ecological reconstruction, who is defining the future of encryption?

On March 7, 2025, the White House held its first cryptocurrency industry summit.

Author: Techub Crypto Conspiracy

——From regulatory games to ecological reconstruction, who is defining the future of encryption?

On March 7, 2025, the White House held its first cryptocurrency industry summit. This closed-door meeting led by the Trump administration is regarded by the industry as a key milestone for cryptocurrency to move from marginal innovation to mainstream because of its "all-star" lineup and forward-looking topics. From exchange giants, Wall Street capital to blockchain protocol founders, multiple forces gathered in Washington to engage in a fierce game on the balance of regulation and innovation. How will this conference reshape the rules and structure of the global crypto market? The following is an in-depth analysis from three dimensions: the background of the participants, the core issues and the potential impact.

Participant Map: The Trio of Power, Capital and Technology

According to a White House statement, the meeting was led by David Sacks, the "cryptocurrency czar" and head of White House artificial intelligence and cryptocurrency affairs, and managed by Bo Hines, executive director of the Digital Asset Advisory Committee. Participants included not only business leaders such as Coinbase and MicroStrategy, but also members of the President's Digital Asset Task Force, highlighting the Trump administration's all-round wooing of the crypto industry.

(The above picture only shows some of the participants)

1. Exchanges and financial services giants: pioneers in compliance

Brian Armstrong (Coinbase CEO) is the helmsman of the largest compliant exchange in the United States. In recent years, Coinbase has promoted the Digital Asset Market Structure Act (DAMA) through lobbying, and its appeal is directly directed at the SEC to clarify the token classification standards. Armstrong publicly stated before the meeting: "Regulation should not be the enemy of innovation, but a shield to protect users."

Vlad Tenev (Robinhood CEO) Robinhood has attracted more than 20 million young users with zero-commission crypto trading, but its "order flow payment" model has been investigated by the SEC. At this meeting, Tenev may promote a retail-friendly regulatory framework to balance market access and risk control.

Arjun Sethi (Kraken CEO) Kraken was recently sued by the SEC for its staking services. Sethi’s speech may focus on “modernization of regulatory measures” and emphasize the controversial applicability of traditional securities laws to on-chain activities such as staking and lending.

2. Bitcoin fundamentalists: decentralization evangelists

Michael Saylor (founder of MicroStrategy) is a "Bitcoin whale" who holds more than 200,000 BTC. Saylor has always advocated that "Bitcoin is digital gold." His speech is expected to emphasize the independence of Bitcoin's monetary policy and oppose the potential erosion of CBDC on crypto assets.

David Bailey (CEO of Bitcoin Magazine) , as the voice of the Bitcoin core community, may criticize the damage to the spirit of decentralization caused by "excessive regulation" and call for the protection of miners' rights and privacy technology innovation.

3. Capital traders: institutional promoters

Matt Huang (co-founder of Paradigm), a top Silicon Valley crypto venture capital firm that has led investments in star projects such as Uniswap and FTX, may propose "progressive regulation" and advocate the establishment of a sandbox mechanism for DeFi protocols.

Kyle Samani (Managing Partner of Multicoin Capital) , who is famous for betting on disruptive projects such as Solana and Helium, may emphasize that "regulation needs to adapt to the multi-chain ecosystem" to avoid a recurrence of Ethereum's centralization problem.

4. Protocol builders: the key players in technology implementation

Sergey Nazarov (co-founder of Chainlink) Chainlink oracles provide data support for the DeFi ecosystem worth over $100 billion. Nazarov may call for the establishment of an "on-chain compliance infrastructure" such as a verifiable KYC oracle network.

The participation of Jp Richardson (Exodus CEO) , a self-hosted wallet manufacturer, suggests that the meeting may discuss private key management standards and balance user asset control with anti-money laundering requirements.

5. Representatives of emerging forces: the voice of globalization and liberalism

Zach Witkoff (co-founder of World Liberty Fund) The organization is committed to promoting financial inclusion through cryptocurrency. Witkoff may propose the concept of "regulatory exemption zones" to allow developing countries to experiment with cryptocurrency policies.

Core issues: rift and consensus coexist

Despite the Trump administration's high-profile overtures to the crypto industry, the market has been volatile recently - Bitcoin has fallen from a high of $109,800 in January to a low of $78,200, almost wiping out all the gains since the election. Analysts point out that the market urgently needs two catalysts: the Fed's expected rate cuts to materialize or the Trump administration's introduction of a