Trump reaffirmed promise to make US the crypto capital at Davos, says advisor

Patrick Witt, executive director of the White House Digital Asset Advisory Committee, said in an interview with Coindesk that the recent World Economic Forum (WEF) in Davos served as a platform for the Trump administration to demonstrate its commitment to normalizing cryptocurrencies globally. Witt stated that President Trump reaffirmed his promise at the event to establish the U.S. as the world's crypto capital. He explained that the administration aims to strike a balance through a symbiotic relationship where traditional financial institutions and new crypto entrants can coexist and compete. According to Witt, this competition will benefit consumers and position the administration as a staunch supporter of technological innovation. He also described stablecoins as a gateway drug to global finance, adding that the U.S. is working to provide regulatory clarity.