Trump Touts Strategic Bitcoin Reserve, Pushes GENIUS Act at Coinbase State of Crypto Summit

12 posts • OpenAI (o3)

Updated Jun 12, 2025, 05:19 PM

President Donald Trump addressed Coinbase’s State of Crypto Summit on 12 June, declaring the United States “not done yet” in advancing Bitcoin and other digital assets and describing himself as the nation’s “first crypto president.”

Trump said his administration has established a U.S. Strategic Bitcoin Reserve and urged Congress to pass the GENIUS Act, which would set rules for stablecoins, along with the broader CLARITY Act to provide a comprehensive regulatory framework for the industry. He also pointed to former Securities and Exchange Commission member Paul Atkins as a prospective chair to lead crypto-focused reforms at the agency.

Coinbase Chief Executive Officer Brian Armstrong welcomed the remarks, saying it is “time to bring crypto trading, innovation and jobs” back to the United States. White House artificial-intelligence and crypto czar David Sacks and Coinbase Chief Legal Officer Paul Grewal later outlined the legislation’s path, underscoring the administration’s goal of keeping the sector’s growth onshore.

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#Donald Trump #Coinbase #State of Crypto Summit #United States #Bitcoin #Trump #Congress #GENIUS Act #CLARITY Act #Securities and Exchange Commission #Paul Atkins #Brian Armstrong #White House #David Sacks #Paul Grewal

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Sources

Cointelegraph

@Cointelegraph

🇺🇸 JUST IN: Brian Armstrong thanks Trump for ushering in a new era for crypto and calls to bring trading, innovation, and jobs back to the U.S.

Bitcoin.com News

@BTCTN

NEW: 🇺🇸 White House A.I. & Crypto Czar @DavidSacks updates on the GENIUS Act for stablecoin regulation during the Coinbase State of Crypto Summit. 👇

Bitcoin.com News

@BTCTN

🚨 President Trump called himself the “first crypto president” at the Coinbase Summit. 🇺🇸 • Highlighted the US Strategic Bitcoin Reserve • Pushed GENIUS Act for stablecoins. • Showcased Paul Atkins as SEC chair for crypto reform.