Dogecoin

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The White House held its first-ever “crypto summit” on Friday, gathering top execs from digital asset firms to chat about how the Trump administration plans to undo the Biden administration’s regulatory crackdown on crypto.
But the attendees reportedly left feeling deflated. Here’s where prices stand over the past 24 hours:
<figure class="wp-block-table">
 <table class="has-fixed-layout">
 <tbody>
 <tr>
 <td>CRYPTOCURRENCY</td>
 <td>PRICE</td>
 <td>GAINS +/-</td>
 </tr>
 <tr>
 <td>Bitcoin (<a href="https://crypto.news/price/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>)</td>
 <td>&nbsp;$86,052</td>
 <td>-0.8%</td>
 </tr>
 <tr>
 <td>Ethereum (<a href="https://crypto.news/price/ethereum/" rel="noopener noreferrer nofollow">ETH</a>)</td>
 <td>&nbsp;$2,182</td>
 <td>+1.5%</td>
 </tr>
 <tr>
 <td>Solana (<a href="https://crypto.news/price/solana/" rel="noopener noreferrer nofollow">SOL</a>)</td>
 <td>&nbsp;$136</td>
 <td>-4.3%</td>
 </tr>
 <tr>
 <td>XRP (<a href="https://crypto.news/price/xrp/" rel="noopener noreferrer nofollow">XRP</a>)</td>
 <td>&nbsp;$2.33</td>
 <td>-2.5%</td>
 </tr>
 <tr>
 <td>Cardano (<a href="https://crypto.news/price/cardano/" rel="noopener noreferrer nofollow">ADA</a>)</td>
 <td>&nbsp;$0.811</td>
 <td>-0.9%</td>
 </tr>
 <tr>
 <td>Dogecoin (<a href="https://crypto.news/price/dogecoin/" rel="noopener noreferrer nofollow">DOGE</a>)</td>
 <td>&nbsp;$0.1925</td>
 <td>-3.5%</td>
 </tr>
 </tbody>
 </table>
</figure>
The event came three days after Trump’s first address to Congress since returning to office, in which he spouted several statements, including one about the economy that doesn’t quite align with the <a href="https://www.factcheck.org/2025/03/video-factchecking-trumps-address-to-congress/" target="_blank" rel="noopener noreferrer nofollow">facts</a>.
“As you know, we inherited an economic disaster and an inflation crisis from the previous administration,” Trump <a href="https://www.whitehouse.gov/remarks/2025/03/remarks-by-president-trump-in-joint-address-to-congress/" target="_blank" rel="noopener noreferrer nofollow">stated</a>.
<h2 class="wp-block-heading" id="strong-here-are-the-facts-strong">Here are the facts</h2>
Gross Domestic Product: Under Trump’s predecessor, Joe Biden, real GDP growth averaged around 3.4% over the first three years, including a 2.5% growth in 2023. Compare that to Trump’s first term: Not counting the Covid-19 pandemic in 2020-, the economy experienced an average annual real GDP growth of approximately 2.5%. By 2020, the pandemic led to a significant contraction and resulted in an overall average annual growth rate of about 1.6% for Trump’s term.
Inflation: Trump has claimed that the U.S. has faced “the worst inflation we’ve ever had.” However, that’s inaccurate – inflation last exceeded 9% in 1981, and has been much higher at various points throughout U.S. history. Indeed, prices surged considerably during the initial two years of Biden’s presidency, reaching a high of 9.1% in June 2022. By December 2024, the annual inflation rate was <a href="https://tradingeconomics.com/united-states/inflation-cpi" target="_blank" rel="noopener noreferrer nofollow">2.9%</a>.
S&amp;P 500 Performance: Since Biden’s inauguration on Jan. 20, 2021, the S&amp;P 500 has <a href="https://www.marketwatch.com/story/heres-how-stocks-have-performed-under-biden-and-harris-vs-under-trump-1339db74?utm_source=chatgpt.com" target="_blank" rel="noopener noreferrer nofollow">risen</a> by approximately 50%, despite a 19% drop in 2022 due to the Federal Reserve’s interest rate hikes aimed at combating inflation.
Dow Jones Industrial Average (DJIA) Milestones: The DJIA surpassed several significant milestones during Biden’s tenure, including:
<ul>
 <li>Crossing 30,000 points on Nov. 24, 2020 — some 20 days after Biden was elected.</li>
 <li>Reaching 35,000 points on July 23, 2021.</li>
 <li><a href="https://www.barrons.com/articles/dow-jones-index-50000-years-8eb46c2c?utm_source=chatgpt.com" target="_blank" rel="noopener noreferrer nofollow">Surpassing</a> 40,000 points on May 17, 2024.</li>
</ul>
Under Trump presently, consumer confidence is <a href="https://www.npr.org/2025/03/07/nx-s1-5316321/as-consumer-confidence-sinks-president-trump-continues-to-blame-biden-administration" target="_blank" rel="noopener noreferrer nofollow">down</a>; stocks just <a href="https://www.forbes.com/sites/dereksaul/2025/03/07/stocks-suffer-worst-week-in-6-months-despite-friday-bounce/" target="_blank" rel="noopener noreferrer nofollow">suffered</a> their worst week in six months (h/t Forbes); and inflation <a href="https://apnews.com/article/inflation-economy-federal-reserve-48e77a855078b37bf3ccd58c9db94c82" target="_blank" rel="noopener noreferrer nofollow">worsened</a>.
As for crypto, it’s still a mystery how Trump plans to pay for the digital asset stockpile that’s currently <a href="https://www.whitehouse.gov/presidential-actions/2025/03/establishment-of-the-strategic-bitcoin-reserveand-united-states-digital-asset-stockpile/" target="_blank" rel="noopener noreferrer nofollow">in the works</a>. Will he raise taxes? We’re <a href="https://www.whitehouse.gov/fact-sheets/2025/03/fact-sheet-president-donald-j-trump-establishes-the-strategic-bitcoin-reserve-and-u-s-digital-asset-stockpile/" target="_blank" rel="noopener noreferrer nofollow">told</a> there would be “no incremental costs on American taxpayers.”
It’s no wonder why both Republicans and Democrats are worried. See below.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 https://twitter.com/semafor/status/1897427016787345902
 </div>
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It’s worth noting that the crypto summit on March 7 comes less than two months after Trump and some of his family members launched their own memecoins.
<figure class="wp-block-image size-large">
 <img loading="lazy" width="1024" height="747" src="https://crypto.news/app/uploads/2025/03/chart122-1024x747.png" alt="Trump spouts false economic claims ahead of crypto summit - 20">
 <figcaption>
 Source: <a href="https://www.coingecko.com/en/coins/official-trump" target="_blank" rel="noopener noreferrer nofollow">CoinGecko</a>
 </figcaption>
</figure>
The big guns of crypto (i.e., Michael Saylor, Coinbase CEO Brian Armstrong, Robinhood CEO Vlad Tenev) attended. It was a clear shift in attitude compared to the Biden era, when the Securities and Exchange Commission (SEC) drew the ire of those in the industry who felt that the Gary Gensler-led crackdowns were unfair.
After all, not everyone in the industry was a scammer (although 2024 had plenty of <a href="https://crypto.news/biggest-crypto-rug-pulls/" rel="noopener noreferrer nofollow">rug pulls</a>).
Today, these honchos have Trump whose federal government — according <a href="https://www.axios.com/2025/03/07/trump-policy-tariffs-flip-flop" target="_blank" rel="noopener noreferrer nofollow">to</a> Axios’ Felix Salmon and Zachary Basu — has become “the primary driver of the chaos.” What could go wrong?
Read more: <a href="https://crypto.news/nft-sales-surge-to-121m-cryptopunks-sales-jump-500/" rel="noopener noreferrer nofollow"> NFT sales surge 15.2% to $121m, CryptoPunks sales jump 500% </a>

Trump spouts false economic claims ahead of crypto summit

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