Crypto.com’s CEO recently met with incoming US President Donald Trump to discuss crypto-related topics, including the strategic Bitcoin reserve ahead of his return to office. The recent reports also revealed the status of the exchange’s lawsuit against the Securities and Exchange Commission (SEC).
Trump Discusses Bitcoin Reserve Ahead Of Inauguration
On Tuesday, Bloomberg revealed that several executives in the digital asset industry and tech CEOs have been meeting President-elect Donald Trump in his Florida club before returning to the White House on January 20, 2025.
Among these industry leaders, Crypto.com’s CEO Kris Marszalek recently joined Trump in his Mar-a-Lago golf club to discuss industry-related topics. During the Monday meeting, the pair allegedly discussed the crypto industry regarding financial departments, Congress, and the coming administration.
Trump and Marszalek meet at Mar-a-Lago club. Source: Kris Marszalek on X
An anonymous source familiar with the meeting told Bloomberg that the re-elected President and the crypto exchange’s CEO also conversed about the strategic Bitcoin Reserve, an initiative gaining traction in several countries, including the US. However, details about this discussion were not shared.
Trump proposed a national Bitcoin reserve in July, promising to create it if elected president. In an interview with CNBC anchor Jim Cramer, the incoming US President reaffirmed his stance nearly a week ago, pledging to do “something great with crypto because we don’t want China, or anybody else, to be ahead.”
Several industry figures and lawmakers have expressed their support for the initiative, with Senator Cynthia Lummis offering to assist. As reported by Bitcoinist, Lummis addressed Trump’s CNBC interview, stating that she’s ready to help him “make this a reality.”
Meanwhile, Texas lawmakers recently introduced a bill to establish a strategic Bitcoin Reserve to allow the state to accept taxes, fees, and donations in the flagship cryptocurrency.
Crypto.com Withdraws SEC Lawsuit
The anonymous source also revealed that the pair allegedly conversed about crypto regulations, discussing the possibility of working together to develop a clear regulatory framework that allows the US crypto industry to compete with other nations.
We look forward to working with the new administration to develop and advance clear regulations for the crypto industry so the US can become a global leader in digital assets and innovation.
The source also shared that the Singapore-based exchange withdrew its lawsuit against the Securities and Exchange Commission after the meeting, given its “intent to work with the incoming administration on a regulatory framework for the industry.”
It’s worth noting that Crypto.com filed a lawsuit against the US regulator in October after receiving a Wells notice informing the exchange of its intention to bring an enforcement action against it. The exchange argued the SEC had overstepped its jurisdiction and that legal action was necessary to protect the crypto industry.
However, the recent report states that the lawsuit was voluntarily dropped on December 16, according to court filings. Bloomberg also highlighted Coinbase’s stance on the incoming administration, as the company has similarly clashed with the US regulator.
A spokesperson for the crypto exchange told the news media outlet that Coinbase is “gratified by the degree that the new incoming administration team has had an open door with Coinbase and the crypto community.”
Bitcoin is trading at $105,960 in the one-week chart. Source: BTCUSDT on TradingView