The very first “Crypto Ball” event will take place on Friday, January 17th, a few days prior to President-elect Donald Trump’s inauguration on the 20th of January.
The gathering is set to take place at the Andrew W. Mellon Auditorium in Washington D.C. It’s expected to highlight American ingenuity, as well as the new administration’s favorable stance towards cryptocurrencies.
Crypto Czar David Sacks will Host the Inaugural Crypto Ball
Based on available information, it appears that interest in tickets for the formal event has been very strong. The more expensive gold tickets, originally set at $2,500 each, have already been snapped up, with just the black tickets priced at $5,000 remaining.
This gathering is being organized by BTC Inc., with additional support from Stand With Crypto, Exodus, Anchorage Digital, and Kraken. The duration of the event is from 8:00 in the evening until midnight.
The backing of well-known blockchain firms clearly demonstrates their commitment to the industry. Distinguished sponsors encompass Coinbase, Sui, Mysten Labs, MetaMask, Galaxy Digital, Ondo, Solana, Microstrategy, Uniswap Labs, and numerous others.
As a researcher, I recently came across an intriguing post by Mario Nawfal on platform X (previously known as Twitter). The post highlighted an exclusive event offering VIP tickets priced at $100,000 and private dinner packages with Trump for a whopping $1 million. What caught my attention was the list of major sponsors such as Coinbase, MicroStrategy, and Galaxy Digital who are backing this event. This alignment suggests a potential move toward a pro-crypto stance within the U.S. administration.
The incoming President, Mr. Trump, has shown clear backing towards digital currencies like cryptocurrencies by selecting key figures with pro-crypto stances to crucial positions. These appointments include David Sacks as the AI and Cryptocurrency Advisor, Scott Bessent as the Treasury Secretary, and Paul Atkins as the Chair of the Securities and Exchange Commission (SEC).
Although Trump himself isn’t expected to attend, David Sacks will be hosting the inaugural ball.
Beyond the “Digital Orb,” focus has also been directed towards the forthcoming cryptocurrency advisory panel proposed by the administration. This panel intends to influence federal guidelines on digital assets. Approximately 20 CEOs and founders could potentially be part of this group, many who have strong connections to Trump in the past.
Industry Leaders Seek Influence in New Administration
After Trump’s latest presidential term, crypto leaders have been proactively meeting with the newly elected president and his advisors. Mar-a-Lago has emerged as a significant venue for debates about cryptocurrency regulations and potential staffing decisions.
In the past month, the CEO of Crypto.com, Kris Marszalek, had a meeting with Trump to explore regulatory approaches. More recently, Ripple executives Brad Garlinghouse and Stu Alderoty shared a meal with Trump to discuss the ongoing legal action by the SEC against their company.
Meanwhile, Coinbase CEO Brian Armstrong has also held discussions with Trump in recent weeks.
Additionally, it’s anticipated that Trump will issue a significant pro-cryptocurrency executive order during his inaugural day in office. This order is said to reverse a significant SEC policy that currently hinders banks from maintaining custody of Bitcoin and other digital assets.
Digital currency companies have made substantial monetary commitments to support the current administration, with the inauguration committee receiving a total of $1 million from Coinbase, Kraken, and Ondo.
Also, Ripple contributed $5 million worth of XRP coins to support the administration’s initiatives.
With the inauguration drawing near, the “Crypto Gala” is expected to draw leading figures from the cryptocurrency sector, keen on interacting with Trump’s administration and shaping the direction of U.S. crypto policy in the coming years.
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2025-01-15 05:29