White House Adviser Predicts Complete Convergence of TradFi, Crypto

That fusion between traditional finance and the crypto industry is only going to accelerate,” Witt said Wednesday at the Chainlink SmartCon conference in New York. “In the future there's not going to be a difference between traditional finance and the crypto industry—it's going to become one thing.”

Witt pointed to growing digital assets initiatives by major banks and credit card companies as evidence of this convergence already underway.

Crypto leadership

Since Trump returned to the White House in January 2025, his administration has pursued an ambitious initiative to position the US as the "crypto capital of the world." The effort aims to create business opportunities for American companies while reducing reliance on offshore digital assets platforms, including foreign exchanges.

Major US banks and asset managers have developed initiatives around digital assets, with some publicizing their credentials in a bid to remain competitive against emerging crypto-native firms.

"The President's a business guy, we're proud Americans, we want to ensure that the United States is continuing to be an engine for innovation on the global stage," Witt said.

Legislative developments

The administration has championed regulatory frameworks designed to provide legitimacy and clarity for crypto companies operating in the US, with ambitions to export these policy models internationally.

The CLARITY Act, which addresses market structure for digital assets, remains stalled in Congress amid the ongoing government shutdown. However, Witt noted he has observed "progress" in recent weeks among lawmakers negotiating the legislation's text.

One piece of crypto legislation has already succeeded: the GENIUS Act, passed in July, established a regulatory framework for stablecoins in the United States.

“Supercharged” by stablecoins

Witt envisions stablecoins creating a "supercharged" economy by providing foundational infrastructure for interoperability and liquidity. This base layer would enable financial products to be built across different blockchains while expanding access to the US dollar for people currently excluded from the traditional financial system.

"I think they're going to proliferate around the globe," Witt said, adding that the government maintains ongoing conversations with counterparts in other countries about establishing reciprocal regulatory frameworks.

Industry support

Chainlink founder Sergey Nazarov, who interviewed Witt during the conference's closing session, repeatedly praised the Trump administration's support for the crypto industry. Nazarov previously participated in a recorded discussion at the White House's Digital Assets Summit in March and said he attended the President's inaugural ball.

Nazarov used his platform to advocate for greater public education about the benefits of digital assets, aiming to counter perceptions that decentralized finance serves illicit purposes. He encouraged the audience to support pro-crypto candidates in elections and noted that he has personally met with members of Congress to provide education on the technology.

Witt suggested a connection between politicians who support crypto and those who champion free speech, though he did not elaborate or provide specific examples.