Crypto executives mingled at a celebration in Washington on Friday night, ahead of President-elect Donald Trump's inauguration. The event, held at the 90-year-old Andrew W. Mellon Auditorium, featured attendees from companies such as Crypto.com, Kraken, and Exodus. Guests, dressed in formal attire, enjoyed a menu that included miniature lobster rolls and McDonald's fare, a favorite of Trump. Entertainment for the night included performances by Snoop Dogg, Rick Ross, and Soulja Boy.
The gala, which had a turnout of approximately 1,500 people, signifies a shift for the crypto industry under the upcoming Trump administration. Attendees sported "Make Bitcoin Great Again" caps and American flag pins from Gemini, a crypto exchange founded by the Winklevoss twins who supported Trump's campaign. The event also provided exclusive VIP packages, allowing attendees to interact with key industry figures.
The event highlighted the mainstream acceptance of crypto, with JP Richardson of Exodus noting the significant impact of the gala. Meanwhile, on the same night, Trump launched a digital token tied to his past campaign events. Despite the celebratory atmosphere, Biden's administration has taken a stricter stance on crypto regulation, prompting concerns within the industry.
Nonetheless, representatives of various crypto companies expressed optimism about the future trajectory of digital assets under the new administration. Bitcoin, in particular, saw record highs in December amid anticipation of upcoming policy changes. Cryptocurrency advocates see events like the Crypto Ball as pivotal in shaping US crypto policy moving forward.