Crypto Industry Celebrates Trump's Inauguration With Snoop Dogg's Cocktails And Performance

Snoop Dogg's rapper's appearance at the party ahead of Donald Tru's inauguration,MP (photo: Doc. foxnews)

JAKARTA The cryptocurrency industry executives partyed with a cocktail while enjoying Snoop Dogg's rap superstar appearance on Friday evening January 17 to celebrate the inauguration of US President-elect Donald Trump who is getting closer. Trump's administration promises major changes in crypto policy in the United States.

The luxury event titled "Crypto Inauguration Ball" was held at Andrew W. Mellon Auditorium, a 90-year-old building with a 19-meter-high pillar. The party features executives from crypto companies such as Crypto.com, Kraken, and Exodus, who previously faced intense pressure from the Biden administration.

Guests who attended wore formal clothes in the form of night dresses and dresses, eating dishes such as Trump's favorite roll mini lobster and burger from McDonald's, according to posts on social media and statements from several participants to Reuters. Apart from Snoop Dogg, the show also features rapper Rick Ross and Soulja Boy as entertainment performers.

Trump, who did not attend the event, has withdrawn great support from the crypto community with the promise to become "President of Crypto." He is scheduled to issue an executive order next week to reduce crypto regulatory barriers and encourage widespread adoption of digital assets.

"We've gone through tough times," said Les Borsai, co-founder of Wave Digital Assets. "If this shows what the future looks like, I think this is the optimism we've been waiting for for a long time."

The event, which was attended by around 1,500 people, is a marker of the rise of the crypto industry, which two years ago almost collapsed due to a scandal such as the collapse of FTX. Tickets sold out at a price of 2,500 US dollars, while VIP packages worth 100,000 US dollars provide exclusive access to meet David Sacks, a tech entrepreneur who will become a "crypto czar" in the Trump administration.

Trump's new policy is expected to bring major changes, including the appointment of Paul Atkins as chairman of the Crypto-friendly Securities and Exchange Commission (SEC). Bitcoin has hit a new record of more than 107,000 (IDR 1.7 billion) in December, driven by enthusiasm for Trump's policy.

Meanwhile, Trump also launched a new digital token featuring a picture of himself, which immediately won a market cap of around 5.5 billion US dollars (Rp90 trillion).

"The presence of crypto voters in the election and this event marks a turning point for crypto policy in the US," said Jonathan Jachym, Kraken's Head of Global Policy.

The event was sponsored by companies like Robinhood, MicroStrategy, Crypto.com, and Gemini. A Crypto.com spokesperson said, "We are proud to support Crypto Ball and look forward to working with the new government to advance digital asset innovation."

Trump's representatives and other event sponsors have yet to comment further.