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Trump White House meets with crypto executives, a cryptocurrency soared 19% due to his remarks

2026-08-20 12:17:20
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Trump meets with crypto and financial executives at the White House to promote digital asset agenda

On August 19, U.S. President Donald Trump hosted executives from the cryptocurrency, prediction markets and traditional financial fields at the White House. The next day, the U.S. Commodity Futures Trading Commission will hold its first Innovation Advisory Committee meeting in Washington. The committee will discuss how emerging technologies such as cryptocurrencies and predictive markets should be integrated into the U.S. financial regulatory framework.

Executives from Coinbase, Ripple, Kraken, Robinhood, Gemini, Nasdaq and Intercontinental Exchange, as well as Securities and Exchange Commission Chairman Paul Atkins and Commodity Futures Trading Commission Chairman Michael Selig attended the meeting. Trump used the meeting to promote his administration's crypto agenda, while accusing the Biden administration of pushing innovation overseas through "tough regulation" and "continued targeting."

Trump says Hyperliquid is expected to return to the United States

Trump specifically mentioned the decentralized derivatives platform Hyperliquid and said Selig "is working to introduce Hyperliquid into the United States in a fully compliant and legal manner." As soon as this was said, the price of HYPE tokens rose accordingly. According to TradingView data, its price is close to $69.60, an increase of about 19% in 24 hours, and its market value reaches about $17.6 billion.

This statement is significant because Hyperliquid has not been officially opened to U.S. users before, amid regulatory uncertainty looming over decentralized exchanges and perpetual contracts. However, the regulatory gap is gradually narrowing. The Commodity Futures Trading Commission has provided regulated U.S. exchanges with a path to launch sustainable products in early 2026, and Hyperliquid representatives also met with the agency's Innovation Working Group on July 14.

Trump promotes the results of his own encryption policies

Trump also highlighted a number of policies introduced since returning to the White House:

Strategic Bitcoin Reserve: was created in March 2025 to hold government-confiscated bitcoins as reserve assets.

U.S. Digital Asset Reserve: An independent government reserve used to hold confiscated cryptocurrencies other than Bitcoin.

Central Bank Digital Currency Ban: A January 2025 executive order prohibits federal agencies from creating or promoting U.S. central bank digital currencies.

GENIUS Act: was signed in July 2025, establishing the first federal regulatory framework for payment stablecoins.

Project Crypto: An initiative by the U.S. Securities and Exchange Commission to update securities rules for cryptocurrencies and move financial markets on-chain. On August 18, the committee proposed a customized financing framework for cryptocurrencies.

Trump also urged Congress to pass a "fair version" of the CLARITY Act, which would provide a broader legal framework for the U.S. cryptocurrency market.

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