David Sacks and its investment company Craft Ventures sold more than $ 200 million crypto, because President Donald Trump named bags as AI and Krypto Car from Bitcoin, Ethereum and Solana. Sacks also held shares in online mediation Robinhood and Crypto Exchange Coinbase. And he was a limited partner in Crypto Venture Capital Funs Multicoin Capital and Blockchain Capital, along with 90 Other VCs.
While Sacks was selling most of his crypts, he and Craft Ventures still hold capital in a set of companies. His shares of Crypto Custody Bitgo and Bitcoin Protocol Developer Lightning Labs are about 2.5% and 1.1% of its total assets. However, the government has agreed to be excited by any conflicts of interests about ongoing betting bags in crypt societies.
“I sold all my cryptocurrency (including BTC, ETH and Sol) before the start of the administration,” Sacks VA said post on X At the beginning of March.
He and his fixed craftsmen did not answer immediately to the request for comment.
March 5th, Memo on the interests of bags in the crypto industry, monitors the rumbling of social media that AI and Krypto car risked mixing their own business with government cryptopoji. After Trump published At the beginning of March, certain cryptocurrencies, including Solana said The bags increased its own portfolio.
And other Naysayers came out against bags as soon as Trump officially officially authorized Creating strategic bitcoin reserves and digital assets later this week. “This is a direct transfer of wealth from the US Treasury to David Sacks and other crypto barons,” said Ryan Grim, who runs a popular account on X and Political Newsletter.
Sacks faced the sale of most of his cryptocurrency tenure and the crypto managers came to his defense. “He does a great job and will not share any of the economic up to avoid the smallest appearance of the conflict,” Cameron Winklevoss, co -founder of Gemini cryptocurrency, published Na X.
Trump named Sacks as his AI and Krypto Car in December. At that time, the coming president said that Sacks, a former Executive Director at PayPal, would lead the policy of regulating artificial intelligence and cryptocurrencies.
This story was originally listed on Fortune.com
