On the morning of the first summit of the digital resources of the White House, Senator Elizabeth Warren sent a critical letter to David Sacks, the cryptocurrency of the Administration and the Tsar Ai.
Warren shared the details of his letter with the news, Axios. He is looking for clarifications regarding potential conflicts of interest due to the history of Sacks’s investments in cryptocurrency companies.
Break:
Senator Elizabeth Warren accused the cryptocurrency tsar David Sacks of investing in the Batwise index fund.
This fund includes strategic reserve activities.
Continue to attack Crypto! pic.twitter.com/kVrn2ytfmy
– Hannah (@cressida_fx) March 7, 2025
Warren asks for clarity on the support of the government to the Blockchain industry
In Warren’s letter to Sacks, the senator asks several questions about the potential conflicts of interest for himself and for those who work by his side.
He says that Sacks is an employee of the special government within the administration and receives a status that provides him with some exemptions pursuant to ethical rules. Warren provides an example as the financial dissemination reports that archive can be kept confidential.
In addition, Warren stresses that Sacks was a Craft Ventures partner. The VC company based in the United States is known for having supported a handful of cryptographic companies such as Fold, Lightning Labs and Betwise.
Betwise in particular creates investment indices from digital activities. It is interesting to note that the five major participations of the Betwise 10 index are the same five cryptocurrencies that Trump has identified for an imminent cryptographic strategic reserve.
Those five resources are Bitcoin (BTC), Ethereum (ETH), Solana (Sol), Ripple (XRP) and Cardano (Ada). If you exclude the Stablecoins and Binance token BNB, those five tokens are the greatest cryptocurrencies for market capitalization.
Although Sacks previously claimed to have sold all his cryptic participations before taking a position within the Trump administration, Warren says that there are “ways to remain exposed, even if in some way more indirectly”.
In his letter, Warren stresses that “Americans deserve strong leaders who will prioritize the public interest in front of their profits. I hope you face these obvious concerns.”
Correct. I sold all my cryptocurrency (including BTC, Eth and Sol) before the start of the administration. https://t.co/dn6nugortur
– David Sacks (@Davidsacks) March 3, 2025
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Senator Warren wants the answers on those who helped Trump decide five cryptocurrencies appointed for the US digital activities activities
Warren also describes a variety of moves of the Trump administration which says that it raises concerns about how ethically he is making decisions in this sector.
On March 6, 2025, the White House announced the signature of an executive order to establish both a “strategic bitcoin reserve” and a “escort of US digital activities.
While the announcement did not name specific activities for the escort, Trump had previously allocated BTC, Eth, XRP, Sol and Ada as five activities that could potentially add to a cryptocurrency reserve.
Yesterday’s official announcement said that any cryptocurrency supply would be created only with activities seized by criminal operations. He continued by saying that the government will not try to add it through purchases. Following the announcement of Thursday, the prices of all five activities collapsed, dragging the rest of the market with them.
Warren’s letter asks for the identities of anyone who has helped Trump to determine the activities. Look for clarifications on how many were subject to laws on conflict of interest.
In addition, it continues to ask Sacks if anyone who had worked on reserve policy had done relevant operations before the announcement.
Starting now, there has been no public response from Sacks or no one else within the Trump Administration to Warren’s letter.
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Elizabeth Warren goes offensive against the Trump administration
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Warren asks for Trump’s cryptographic tsar, David Sacks, explains any conflicts of interest with his encryption dialogue
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Sacks previously said he sold all his cryptic participations before starting the position within the Trump Administration
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Senator Warren says that there are ways in which individuals remain exposed to the market, indirectly
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The best (best) portfolio is quickly becoming the encryption portfolio with its packed app: it is said that the presale will end soon and has just reached $ 10.8 million in funding
The post Elizabeth Warren writes the letter to Trump’s cryptographic guru asking for public dissemination. The best presale of cryptocurrency to buy right now? He appeared first out of 99bitcoin.