According to Internet reports, Mike Alfred posted on platform X and said: "The Trump administration is preparing to announce a zero capital gains tax on cryptocurrency transactions at the Crypto Summit on Friday." Adam Cochran, partner at Cinnemhain Ventures, said: "Mike blackened me because I repeatedly verified his facts, but that didn't stop me. The president cannot unilaterally change the tax code. Only Congress can. This is one of the few congressional powers clearly stipulated in the Constitution. Even if the president announces the decision or attempts to sign an executive order for it, it will not make it law. It's no more effective than claiming to be a cupcake."