US President Donald Trump's cryptocurrency advisor, David Saks — also known as the "Crypto Czar" — will hold a press conference on February 4 to discuss digital asset regulation. Key Congressional committee chairs including Tim Scott, John Buzman, French Hill, and Thompson are expected to participate. The main topics will include the potential creation of a national crypto fund, a strategic bitcoin reserve, and new tax initiatives for digital assets.
According to Perianne Boring, head of the Digital Chamber of Commerce, the coordination between Congress and the administration signals significant changes in the government’s approach to cryptocurrencies. Experts expect Saks’s remarks to set the course for future industry regulation. The conference begins at 2:30 PM ET.
Bitcoin Recovers After Crash
Amid anticipation of the press conference, the cryptocurrency market is showing signs of recovery following a recent downturn. Data from Coinmarketcap indicates that bitcoin once again surpassed the $100K mark and later reached $102K, recovering from a drop triggered by escalating trade disputes between the US, Canada, and Mexico. Recent reports state that the President of Mexico announced a temporary suspension of tariffs after negotiations with Trump, while the Prime Minister of Canada confirmed a 30-day delay of US tariffs.
Previously, this conflict led to massive market liquidations, with 714,600 trader positions closed in one day for a total of over $2.2 billion. Santiment analysts noted that market sentiment on social media reached its most bearish level in over a year during this period.
Trade Wars Continue: Tensions with China Escalate
Despite easing tensions with Canada and Mexico, the situation with China remains severe. Trump confirmed his intention to restrict Nvidia chip supplies to China, prompting Chinese authorities to impose tariffs of 10–15% on American coal, LNG, oil, and agricultural machinery. Additionally, it was revealed that Beijing has initiated an antitrust investigation against Google.
Who is David Saks and What He Plans
Recall that David Saks was appointed as the "Crypto Czar" of the White House in December 2024. His role involves developing the digital asset and artificial intelligence sectors in the US. The Trump administration aims to strengthen the country's position in these areas and support technological independence from the influence of large IT corporations.
Saks’s appointment reflects Trump’s desire to secure support from Silicon Valley. The forthcoming press conference is expected to clarify key directions in US crypto policy and potential legislative changes that could impact the market.
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