US President Donald Trump was not supposed to be at today’s gathering, but two senators, the CFTC head, and officials from the industry would be there.
World Liberty Financial, the corporation sponsored by Trump and his sons, is putting on a “forum” for lawmakers, Wall Street executives, and cryptocurrency luminaries at US President Donald Trump’s private Mar-a-Lago club.
Before the event, the price of World Liberty’s WLFI token went up by more than 23%, from $0.10 to roughly $0.12. In the last 24 hours, the trading volume was over $466 million.
On Wednesday, Eric Trump and Donald Trump Jr., the president’s sons and co-founders of World Liberty Financial, will meet at Trump’s Florida property with Brian Armstrong, the CEO of Coinbase; Mike Belshe, the co-founder and CEO of BitGo; Michael Selig, the chair of the CFTC; and others to talk about policy issues related to cryptocurrency.
Source: World Liberty Financial
Lawmakers and industry executives gather at Mar-a-Lago
World Liberty calls the event a “forum” for people who are interested in crypto. It comes at a time when US politicians are working on a big measure to set up a digital asset market structure and are worried about how to deal with stablecoin yield. Selig is going to talk to Lynn Martin, the president of the New York Stock Exchange, about the measure.
The President was not supposed to be at the gathering on Wednesday morning, even though it was in line with crypto policy and included senators like Ohio Senator Bernie Moreno and Florida Senator Ashley Moody.
At the same time, a lot of Democratic senators are still pressing for the market structure bill to contain rules that would stop US lawmakers and elected officials from making money from the crypto business while they are in office.
Since Trump assumed office in January 2025, many publications have said that he and his family have made more than $1 billion from crypto businesses. Unlike during his second term, Trump declared in 2019 that he was “not a fan” of Bitcoin (BTC $67,111) and other cryptocurrencies. After leaving office in 2021, he called the coin a “scam.”
US market structure legislation under Senate review
The US House of Representatives passed the market structure bill in July as the CLARITY Act. The Senate is now looking at it and is expected to make things clearer for the Commodity Futures Trading Commission and the Securities and Exchange Commission, Washington’s two main financial market regulators, when it comes to overseeing digital assets.
In January, the Senate Agriculture Committee, which is in charge of the CFTC, moved forward with its version of the bill along party lines. No Democrats voted for the bill. In January, the Senate Banking Committee put off its markup of the measure after the CEO of Coinbase stated he couldn’t support it as it was drafted because he was worried about tokenised equities and decentralised finance.