With cocktails and Snoop Dogg, crypto industry celebrates Trump inauguration

With cocktails and Snoop Dogg, crypto industry celebrates Trump inauguration

Crypto Industry Celebrates at First-Ever Inauguration Ball Ahead of Trump's Presidency

In a remarkable display of industry optimism, executives from leading crypto firms including Crypto.com, Kraken, and Exodus gathered at the inaugural crypto inauguration ball, held at the historic Andrew W. Mellon Auditorium in Washington D.C. The grand venue, known for its towering 62-foot columns, provided a fitting backdrop for the event, which marked a significant shift for the crypto industry after years of challenging relationships with U.S. policymakers.

The event, which attracted around 1,500 guests, featured an elegant black-tie affair with attendees enjoying lobster rolls and McDonald's burgers and fries—an homage to former President Trump's personal taste. The entertainment lineup was star-studded, with rapper Snoop Dogg joined by Rick Ross and Soulja Boy providing the evening's music.

The gala symbolized a dramatic turnaround for the cryptocurrency sector, which had been under fire during the Biden administration and faced an existential crisis following the collapse of FTX. Despite these challenges, the crypto community is now rallying behind Trump's pro-crypto stance, which includes promises to become the "crypto president."

Although Trump did not attend the event, he has been actively courting crypto campaign contributions. He is expected to issue executive orders aimed at easing crypto regulations and promoting the widespread adoption of digital assets once he takes office.

Les Borsai, co-founder of crypto investment firm Wave Digital Assets, expressed a sense of hope for the future. "There were a lot of dark years," Borsai reflected. "If this signifies what the future looks like, I think that's the optimism we've been waiting for."

The gala also featured exclusive swag, including "Make Bitcoin Great Again" red baseball caps and American flag pins with the Gemini logo, a nod to the event's sponsor and major crypto exchange founded by Cameron and Tyler Winklevoss, who also supported Trump's campaign.

Tickets for the event sold out at $2,500 each, with VIP packages priced at $100,000, offering exclusive access to key figures, including David Sacks, Trump's incoming crypto czar and the evening's emcee. Sponsors for the event included leading firms such as Robinhood's digital asset division, MicroStrategy, and Crypto.com, with custom cocktails named in their honor.

The crypto inauguration ball was more than just a celebration—it represented a newfound hope for the future of the digital asset industry, as it anticipates a more favorable regulatory landscape under the incoming administration.