The administration of US President Donald Trump may be setting aside plans for an official “Crypto Council” in favor of a series of informal gatherings with a rotating lineup of industry leaders. This adjustment, first reported by Unchained Crypto on February 13, is believed to mirror both tactical policy considerations and a bid to ease escalating internal discord within the digital asset sector.
Crypto Council Delayed, Summits Proposed
As per Unchained, three undisclosed sources knowledgeable about the administration’s decision-making revealed that these anticipated summits would likely address various policy topics, spanning banking and payments to data centers and Bitcoin (BTC) mining.
In a segment of its report, Unchained remarked: “The Trump administration may not proceed with a formal ‘crypto council’ after all. Instead, the White House is expected to convene a rotating assembly of crypto leaders for a series of ‘summits’ addressing specific crypto policy matters, according to three sources acquainted with the decision-making process.”
It remains ambiguous how many summits the White House is contemplating or precisely when they would occur. Two of the sources informed Unchained Crypto that industry trade associations have been providing input on possible formats and discussion themes.
The emergence of these informal summits seemingly originates from Trump’s team wishing to avoid power struggles within the expansive crypto ecosystem. Industry stakeholders have become increasingly fragmented into factions, comprising “Bitcoin maximalists,” advocates of decentralized finance (DeFi), supporters of centralized exchanges, and others with contrasting perspectives on integration with traditional finance.
Numerous individuals in the digital asset realm had previously anticipated the formation of a “Presidential Council of Advisers for Digital Assets (the ‘Crypto Council’).” That anticipation was sparked by a December message from President Trump on Truth Social, where he outlined intentions for an advisory group “composed of luminaries from the Crypto industry.”
Under the initial blueprint, Crypto and AI Czar David Sacks would act as chair, while former congressional candidate Bo Hines would serve as executive director. While Hines has maintained a low profile since December, one unnamed source conveyed to Unchained that he has been engaging with lawmakers and lobbyists in Washington to evaluate options. According to this same source, the summits could be presented to the public as “a no-brainer way to have America’s brightest minds share insights on their fields of expertise.”
Not everyone interprets the shift as simply strategic. In Unchained’s coverage, one unidentified individual expressed doubt: The summits might be “purely a way to sidestep conflict” and could enable Trump to gather insider knowledge “he might use to profit personally.” Another source described Trump’s personal crypto ventures, including the TRUMP memecoin and his connection with World Liberty Financial, as “an embarrassment.”
Just last week, The New York Post unveiled several potential candidates for the Crypto Council within the Trump administration. Among those listed were former Kraken general counsel Marco Santori, Ripple co-founder Brad Garlinghouse, podcast host Frank Chaparro, Circle CEO Jeremy Allaire, Coinbase CEO Brian Armstrong, and Crypto.com CEO Kris Marszalek.
Is Ripple Responsible?
Stirring further speculation, Andrew Parish (@AP_Abacus), founder of x3, shared what he claimed to be a statement from a supposed insider. Parish’s post on X read: “Should be obvious at this point. And sources confirming late last night: ‘Ripple pressed too hard, no chance XRP makes it into any fed level reserve,’ and ‘Focus remains on Bitcoin and best path to an SBR […] ‘SBR isn’t simple, will take time; have to avoid law of unintended consequences […] Trump is intelligent, trusts Bitcoin first thesis.’”
These comments imply that Ripple’s lobbying—or perceived overreach—might be dissuading the Trump administration from granting Ripple a significant role in governmental discussions. However, Parish’s statements are based on anonymous sources and lack verification.
Prominent figures within the Bitcoin community have weighed in on the rumored events. Julian Fahrer, co-founder of Apollo, stated via X: “Trump is contemplating abandoning the Crypto Council. Not surprising. Consider Ripple’s contribution thus far: ‘Here’s our plan for dumping XRP on the American people indefinitely.’ Shocking that this brain trust isn’t working out!”
Meanwhile, Steven Lubka, Head of Swan Private, also shared on X: “Ripple’s posturing may have jeopardized the entire crypto council, leading Trump towards summits instead.”
At the time of publishing, XRP was trading at $2.54.
Featured image created with DALL.E, chart from TradingView.com
