Trump has begun fulfilling his promises regarding cryptocurrencies, although some actions did not align with investor expectations. One of the most significant announcements from the newly elected president, who has taken exciting pro-crypto steps, was the establishment of a unit focused on cryptocurrency within the White House. David Sacks has been appointed to lead this unit. However, he made a crucial move prior to this appointment.
Details of the Crypto Sale
According to a recently published White House note, David, who serves as Trump’s crypto and AI advisor, sold his $200 million investment in this field before starting his new role. He took this action through his personal investments and his company, Craft Ventures, to avoid any financial gains due to his position.
Many public officials, including the highest-ranking Democrat on the Senate Banking Committee, Elizabeth Warren from Massachusetts, criticized him, suggesting he stood to gain from his crypto involvement. However, an 11-page document indicated that David had already sold his crypto-related assets. This undermined the Democrats’ claims that he held assets like BTC ($84,348.09), SOL ($133.13), ETH ($1,931.61), and others in strategic reserves.
