Bitcoin is down 23% this year and crypto sentiment is at extreme fear. Yet nearly 400 of the biggest names in global finance just showed up at Mar-a-Lago for the Trump family’s World Liberty Forum, according to a CNBC Crypto World weekly recap.
Wall Street Meets Crypto at Mar-a-Lago
The event, hosted by Donald Trump Jr. and Eric Trump through World Liberty Financial, pulled in Goldman Sachs CEO David Solomon, Nasdaq CEO Adena Friedman, CFTC Chairman Michael Selig, Coinbase CEO Brian Armstrong, FIFA President Gianni Infantino, and Nicki Minaj.
The Trump brothers positioned the forum as a collision point for crypto and traditional finance.
“To be able to come back and now work with the best in crypto as well as the best in tradfi, get these people together to create efficiencies in a system that’s otherwise been totally undemocratized and broken and inefficient and slow,” they said.
Stablecoin Bill Could Hit the Finish Line by April
Senator Bernie Moreno (R-OH) said the CLARITY Act could become law by April. The bill passed the House last July but has been stuck in the Senate over one big fight: whether crypto platforms can offer yield on stablecoins. Banks want that blocked. The crypto industry says it should stay.
Coinbase CEO Brian Armstrong pushed back on reports that the industry killed the Senate Banking Committee’s earlier draft.
He said there’s now a clear path to a “win-win-win” for crypto, banks, and consumers.
Dragonfly Capital Just Raised $650M in a Bear Market
While retail traders pull back, Dragonfly Capital closed a $650 million fourth fund. The backers include JP Morgan, Harvard, and the Rockefeller Foundation.
Stablecoins are the firm’s number one bet. Portfolio company Rain went from near-zero last April to $4B+ annualized in stablecoin settlement with Visa.
“2025, 2026, we’re going to see a real acceleration of this sort of financial revolution and they wanted exposure to that,” general partner Rob Hadick said.
Bitcoin Drops While Altcoins Show Life
Bitcoin lost about 1.26% over the week and is now trading at $66,883. Ether slipped roughly 1% to $1,963, while XRP edged up 1.26% to $1.41.
Coinbase Institutional’s John D’Agostino offered a long-term bullish take, calling $100K a psychological turning point.
“There are emotional break points. 100,000 I think was an emotional break point on the upside where a lot of people who’ve been holding it since a thousand bucks, two thousand bucks said okay now I can kind of delever and take some risk off,” he said.
The legislation push, institutional bets like Dragonfly’s, and the sheer weight of the World Liberty Forum guest list all point in one direction. The money is moving, even if the price hasn’t caught up yet.
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