David Sacks and his company Venture Capital sold over $ 200 million in cryptographic and cryptographic actions before he began his role as AI of the White House and Crypto Czar, revealed the White House Memorandum.
“You and craft ventures have accumulated over $ 200 million positions related to the digital assets industry, of which $ 85 million can be directly assigned.” he said Memorandum of March 5.
Sale of cryptocurrencies to prevent conflict of interest
The memorandum found that “significant steps” were taken to reduce potential conflicts of interest before the bags began their term as AI of the White House and Crypto Czar – in which the main part of his role is to create a legal framework for the cryptocurrency industry.
The sacks relieved the entire “liquid cryptocurrency” in their portfolio, as well as the Ventures-Firma craft portfolio, which he co-founded in 2017-in this Holdings in Bitcoin (BTC), Ether (ETH) and Solana (SOL) before the inauguration of President Donald Donald Trump on January 20.
Memorandum outlined which cryptocurrencies and cryptographic actions David Sacks sold Trump before the inauguration. Source: White House
Since the inauguration of Trump, the cryptocurrency market has noted a significant decrease in connection with the broader slowdown of the market, and many blamed the proposed Trump tariffs and uncertainty compared to interest rates in the USA.
While Bitcoin knocked on a fresh $ 109,000 a few hours before Trump’s swearing in to $ 47. The President of the USA recently fell below $ 80,000 27 February, removing all benefits after the election. At the time of publication, Bitcoin trads $ 84 155 as for Coinmarketcap data.
Sacks devoid of publicly traded cryptographic companies, including Coinbase (Coin), Robinhood (Hood) and Stakes in private digital assets.
In addition, he sold his constrained partnership in the multi -cruise capital focused on Solan and Venture Capital oriented at the Blockchain Capital cryptocurrency. At the same time, Craft Ventures has discharged its shares in managing multi -cruciferous capital and BitWise Asset.
Senator Warren called the sacks to prove that there is no crypto anymore
The memorandum is dated one day before Senator Massachusetts Elizabeth Warren called sacks in a letter of March 6 to prove that he no longer has any digital assets, after a claim of sacks in X, that he sold all his crypto.
“Despite your public statements through X, it remains unclear when you personally deprived BTC, ETH and SOL, when craft projects without battle and whether these relatives can take positions and sold in a recent increase in prices,” said Warren.
Since the sacks began the role of cryptocurrencies in the White House, he has been an advocate on various issues in the cryptocurrency industry, from the importance of the Bitcoin strategic reserve to excessive taxation of the cryptocurrency industry.
Related: Bitcoin Panic Sales costs fresh investors $ 100 million in 6 weeks – research
The bags have recently closed the idea of cryptocurrency transactions from the section of everything in Podcast after the host Jason Calacanis proposed a tax on 0.01% from each cryptocurrency transaction.
“Taxes always start. They are described as very modest, “said Sacks.
“You know when the income tax began, it concerned only a thousand Americans, and the legislators swore that it would never be used for middle class people,” Sacks added.
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