The White House Crypto Summit opened high and ended low, Bitcoin was resilient while Altcoin were sold off

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ODAILY
03-08
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Odaily reported that the highly anticipated White House cryptocurrency summit has come to an end, but the result has disappointed cryptocurrency traders, failing to ignite the expected market frenzy. Compared to Bitcoin, Altcoins such as Ripple, Cardano, and SOL have seen larger declines. The summit's results were rather muted, only committing to developing a stablecoin regulatory framework by August and promising more lenient regulatory measures. These actions failed to ignite the market sentiment as expected. Trump had previously promised to establish a strategic cryptocurrency reserve including Bitcoin, Ethereum, and Ripple, triggering a massive rebound in cryptocurrencies as traders bet on a major policy shift. However, White House AI and cryptocurrency advisor Sachs clarified that the five cryptocurrencies mentioned by Trump were just examples, not an official commitment, dampening the market's optimism. (Jinshi)

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