The advisory council that may not be
It appears Trump’s team is trying to avoid having too many cooks in the kitchen
President Donald Trump | Chip Somodevilla/Shutterstock modified by Blockworks
This is a segment from the Forward Guidance newsletter. To read full editions, subscribe.
President Trump’s crypto advisory council, established by executive order during his first week in office, may not be shaping up to be exactly what the industry had envisioned.
Unchained reported yesterday that the council may be scrapped altogether. In its place, according to unnamed sources, the Trump team would organize “policy summits” to discuss legislation with industry stakeholders.
I’ve also heard that policy summits are on the table. Two other sources familiar with the matter told me that if there’s an advisory council at all, it would likely be made up of government employees rather than industry executives.
It’s no secret that a lot of people wanted roles on that council. The NY Post reported there were at one point two dozen seats up for grabs, although I haven’t been able to confirm that figure.
What I’m hearing: Trump’s team is trying to avoid having too many cooks in the kitchen.
On the one hand, they’re in a tough spot. They want to avoid alienating certain sections of the industry — many of which were big donors during the campaign — but the act of bringing everyone together will lead to inter-industry conflict. Enter the “policy summit” pitch.
It wouldn’t be unprecedented. The House Financial Services GOP retreat earlier this month featured a 45-minute presentation and Q&A with a16z’s Chris Dixon, according to people familiar. Industry execs and lobbyists are on the Hill all the time trying to inform policy.
We’ll be monitoring the council situation. You just monitor your inbox.
Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.
Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the Forward Guidance newsletter.
Get alpha directly in your inbox with the 0xResearch newsletter — market highlights, charts, degen trade ideas, governance updates, and more.
The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.
