David Sachs, President Donald Trump encryption and artificial intelligence Caesar, I was recovered this week After allegations that he could financially benefit from Trump’s announcement of an American strategic encryption.
The initiative, which Trump has shared details about Sunday, will include the reserve government of digital assets, including Bitcoin (BTC), ETHEREUM (ETH), XRP, Cardano (Ada) and Solana (Sol). Critics raised fears that individuals within the administration with relations with these origins can stand from this step.
Soon, Sacks, an adventurous capital with previous encryption investments, became a pivotal point of controversy. During the weekend until Monday, he responded to X (previously Twitter), and he rejected the accusations that he had a financial interest in this policy. He stated that he had got rid of all his personal encoding life before joining the administration, including his share at Multicoin Capital, an investment company that focuses on encryption.
However, one of the remaining questions was whether Craft Ventures – Sacks’s Venture Capital – has kept its investments in Bitwise, the director of the encryption index that helped Sacks to finance again in 2017. BitWise products include ETF investment that carries all the assets mentioned in the Trump Reserve Strategy Plan Which can benefit from government purchases.
On Tuesday, a source close to Craft Ventures confirmed to Coindesk that the fund had left its site to BitWise before the second administration started. the Craft projects site It was also updated on Tuesday to reflect that he had left its investments in January 2025.
Craft Ventures, BitWise and Sacks publicly did not comment on the clear exit. I told the source close to Craft Ventures Coindsk that the company did not publicly comment so that the government clearance process for SACKS, which is still continuing.
In his defense on social media, the bags rejected the entire controversy. “The accusation that people who are already successful at work go to the government to earn more money is a lazy and stupid narration,” books. “As I learned, the service in the government involves great disturbance and stripping individual interests.”
The discussion about Trump’s proposal reserves He continues to divide the encryption community. Some of the president’s encryption supporters argue that only Bitcoin reserves will be better, while others wonder whether the government should participate in the possession of digital assets at all-the pretext that government interference in the encryption space contradicts the decentralized ideals of the industry.
The questions of conflicts of interest also continue to spin around the president, itself. World Liberty Financial, supported by Crypto World Financial, is about 500 million dollars of encryption assets, including some of them listed in its reserve advertisement on Sunday.
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