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Crypto Industry Celebrates New Era at Inauguration Ball
A Night of Festivities
Cryptocurrency executives gathered on Friday night to celebrate the approaching inauguration of President-elect Donald Trump. The event, held at the historic Andrew W. Mellon Auditorium, marked a notable shift in the industry’s relationship with Washington.
Dressed in black tie and ball gowns, attendees enjoyed miniature lobster rolls and fast-food favorites while entertainment included rap stars Snoop Dogg, Rick Ross, and Soulja Boy.
Optimism for the Industry
The gala served as a signal of renewed optimism for cryptocurrency, which had faced scrutiny and challenges under the Biden administration. “There were a lot of dark years,” said Les Borsai, co-founder of Wave Digital Assets. “This event symbolizes the optimism we’ve been waiting for.”
Crypto Policy Under the New Administration
President-elect Trump, who was not in attendance, has promised to implement policies that reduce regulatory barriers and promote digital asset adoption. His administration plans to issue executive orders aimed at advancing the industry.
Paul Atkins, the incoming chair of the Securities and Exchange Commission, is expected to lead significant changes in crypto policy.
Growing Mainstream Appeal
Tickets for the event, which reportedly sold out at $2,500 each, drew approximately 1,500 attendees. For VIP packages costing $100,000, attendees were offered exclusive experiences, including interactions with incoming crypto officials.
JP Richardson, CEO of Exodus, described the gala as a testament to how far the cryptocurrency industry has come, saying, “Last night was truly a milestone for crypto’s mainstream acceptance.”
Bitcoin Surges on Policy Hopes
As anticipation grows for the incoming administration’s crypto-friendly stance, Bitcoin recently reached record highs. Market watchers view the potential policy shifts as a turning point for digital assets.
Conclusion
The inauguration ball highlighted the cryptocurrency industry’s evolving role in the political and economic landscape. With promises of regulatory support and growing mainstream acceptance, the industry’s leaders look forward to what they hope will be a more supportive era.