White House Meets Crypto Leaders Amidst Regulatory Back-and-Forth

The White House is set to hold a meeting on Wednesday with key players in the crypto industry, including executives from Coinbase, Ripple, and Kalshi. The guest list also includes President Trump, as well as the SEC and CFTC chairs.

This meeting comes amidst a flurry of activity in Washington, with several other key events happening over the next few days. On Thursday, the CFTC will hold its first Innovation Advisory Committee meeting, which is expected to focus on prediction markets.

The agency has already indicated that it plans to write its own rules if Congress doesn't get a bill passed, and this meeting may reveal more about their approach. The CLARITY Act, a key piece of legislation in the crypto space, has missed its August window and won't be voted on until September at the earliest.

The FOMC minutes are also expected to be released on Wednesday, which could have an impact on rate expectations and risk assets. Japan's Q2 GDP will be reported on Monday, followed by CPI on Friday, which may indicate whether a Bank of Japan hike is imminent.