American Crypto Czar portfolio of $ 200 million was held by Bitcoin, Coinbase and Robinhood
David Sacks and his investment company Craft Ventures have taken more than $ 200 million in cryptocurrencies, since President Donald Trump called Sacks as AI and Crypto Czar White House, Bitcoin, Ethereum and Solan. Sacks were also held in stock in an internet brokerage slave and a crypto exchange Coin. And he was a limited partner at Funds Marquee Crypto Risk Capital MultiCoin Capital and Blockchain Capital, along with 90 other VC.
While Sacks seized most of his crypts, he and craft ventures are still holding capital in the company package. Its shares of the Cryptocurrency Company Bitgo and Bitcoin Protocol Developer Lightning Labs is worth about 2.5%, or 1.1% of its total assets, according to memo. The Government, however, agreed that it would give up any conflict of interest in the bags and constant roles of craft ventures with the crypto companies.
“I sold all my crypto currency (including BTC, ETH and Sol) before the start of the administration,” Sacks UA said publish on X earlier in March.
He and his solid crafts did not immediately respond to the commentary request.
From March 5, the memorandum of the interests of the bags in the crypto industry follows the rumble on the social media that AI and Crypto Czar risked mixing their own business with government cryptocurrencies. After Trump published At the beginning of March that certain cryptocurrencies, including Solan, would be included in the national crypto reserves, critics said These bags amplified its own portfolio.
And more naysayers came out against sacks after Trump was officially officially officially authorized Creating a strategic reserve Bitcoin and digital supplies of stocks later that week. “This is a direct transmission of wealth from the American Treasury to David Sacks of Other Crypto Baron,” ” said Ryan Grim, who runs a popular account on the Bilten X and A Politics.
The Sacks opposed that most of their stakes were in the cryptocurrency of currencies, and the chiefs of the cryptocurrency came in his defense. “He does a huge job and will not share any economic upside down to avoid even the slightest look of the conflict,” Cameron Winklevoss, co -founder of Crypto Exchange Gemini, published on the X.
Trump appointed Sacks his AI and the crypto car in December. The then -arriving president said that Sacks, who is the former Paypal CEO, will lead a policy on regulating artificial intelligence and cryptocurrency currency.
This story is originally displayed on Fortune.com
