David Sachs and the Investment Capital sold more than $ 200 million from the shares associated with encryption and encryption before starting its role in the White House AI and Crypto CZAR, a note in the White House.
“You and Craft Ventures have come to more than 200 million dollars from the positions related to the digital asset industry, of which 85 million dollars are attributed to you directly,” He said The memo dated March 5.
Selling encryption in an attempt to prevent conflicts of interests
The memo said that the “important steps” were taken to reduce the conflict of potential interests before the bags started during his work as the White House AI and Crypto CZAR – where a large part of its role is to create a legal framework for the encryption industry.
The bags unloaded all the “liquid cryptocurrency” in its portfolio, in addition to the Craft Ventures-the investment company that he participated in its founding in 2017-including the holdings in Bitcoin (BTC), ETHER (ETH) and Solana (Sol) before the inauguration of US President Donald Trump on January 20.
The memo, which was sold in cryptocurrencies and coding shares before Trump's opening. source: White House
Since Trump's inauguration, the encryption market has witnessed a significant decrease amid a decrease in the broader market, while blaming the proposed Trump tariff and uncertainty about American interest rates.
While Bitcoin benefited from the highest new level ever at $ 109,000 before Trump was sworn in as 47, he recently decreased to less than $ 80,000 on February 27, which has erased all post -election gains. At the time of publication, Bitcoin is traded at $ 84155, per CoinMarketcap data.
Sacks has also been behaved from companies related to the audience's encoding, including Coinbase (Coin), Robinhood (Hood), and risks in private digital asset companies.
In addition, he sold his limited interest to his partner at Blockchain Capital, which focuses on Solana that focuses on Solana and Blockchain Capital. Meanwhile, Craft Ventures has canceled its Multichain Capital and Bitlise Asset Management.
Senator Warren urged the bags to prove that he no longer carries encryption
The memo was dated one day before Senator Elizabeth Warren urged Massachusetts to the bags in a letter on March 6 to demonstrate that he no longer carries any digital assets, following the Sacks claim in the X Publishing, which he sold all the encryption.
“Despite your public statements across X, it remains exactly unclear when I personally escape from BTC, ETH and Sol, when you ignore craft projects from Bitwise, and whether people close to you may have occupied sites and sold in the recent prices,” Warren said.
Since Sacks began the encryption role in the White House, he was defending various issues in the encryption industry, of the importance of the strategic Bitcoin reserves to the lack of excessive in the encryption industry.
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Sacks recently closed the idea of encryption transactions in an episode of All In Podcast after the host Jason Calacanis suggested imposing a 0.01 % tax on each encrypted currency treatment.
“This always starts taxes. Sachs said:” They are described as very humble. “
“As you know, when the income tax began, it is applied only to a thousand American, and the legislators were divided up and down that it will not be applied to the middle -class people,” Sachs added.
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