Trump stepped up the encryption market on Wednesday night after meeting with several encryption executives in the White House. At the same time, the President of the United States called on Congress to push for the long-stagnating CLARTY Act, so that market sentiment would warm up and bitcoin would approach the $700,000 mark.
Bitcoin goes up with the Etherport.
Bitcoin rose at one point to $69,825, an increase of more than 8.5 per cent over Tuesday, the highest level since early June. Before that, bitcoin fell $700,000 in June.
The increase was even greater, with prices rising to $2,261.26, or 18.3 per cent over Tuesday. Other major tokens are also generally on the rise, indicating a marked recovery in financial risk preferences.
- SOL Increase 11.5%
- XRP Increase 10.6%
- DOGE Increase 7.3%
- BNB Increase 4.3%
White House event focused on encryption legislation.
The event took place in the White House on the day before the first meeting of the United States Commission for Commodity Futures Trading (CFTC) Advisory Committee on Innovation. Trump was on the scene urging Congress to adopt the CLARITY Act, which had long been supported by the encryption industry but had been slow to move forward.
According to Trump, Congress needs to take the next step to push the bill down. He also described encrypted assets as a financial technology with the potential to create more jobs, opportunities and wealth for the United States.
In terms of market responses, investors see this as a positive signal at the policy level. Particularly in a context where the direction of encryption in the United States remains a high priority, the White House ' s public release of support attitudes tends to move rapidly to mainstream currency prices.
Attended by several platform executives
The White House was attended by senior managers of the encryption industry and trading platform, including Coinbase CEO Brian Armstrong, Robinson CEO Vlad Tenev, and Gemini co-founders Tyler Winklevoss and Cameron Winklevoss.
In addition, Arjun Sethi, Co-Executive Officer of Kraken, and Jeffrey Sprecher, Chief Executive Officer of the Intercontinental Exchange (ICE), were on the list. The participants showed that the event was not only aimed at encrypted original companies but also covered a wider range of financial institutions associated with digital assets.
The White House ' s intensive meetings with industry executives, combined with the President ' s public push for the bill, have increased market short-line attention to subsequent legislative developments in the United States and subsequent policy signals from regulators.