Key dealers
- David Sacks threw allegations of financial misunderstanding such as slander and slander.
- Sacks sold over $ 200 million in crypto holdings before his consulting role.
David Sacks has defended himself against the latest accusations that he used his position to manipulate crypto markets and called the claims baseless.
Speaks in a new episode Of the all-in podcast, the White House dealt with AI and Crypto Czar accusations that he was involved in a system of inflating his crypto holdings for personal profits.
“People came out immediately and said that I was somehow involved in a system for pumping my bags or basically creating starting -likelihood for myself,” Sacks said, claiming that these claims are serious because they amount to accusations of a crime.
Sacks repeated that he had divested all his crypto holdings before joining the administration to avoid any appearance of a conflict of interest. He confirmed in a previous statement that he had sold Bitcoin, Ethereum and Solana.
“When it comes to crypto, fluctuations will be on the market,” he explained. “You never want anyone to be able to point to one of these fluctuations and in some way say that Krypton benefits from it and creates a conspiracy theory, which is exactly what basically happened.”
Sacks revealed that he and his business companies power had liquidated about $ 200 million in crypto assets, of which $ 85 million were personally attributed to him.
“We cleared that before day a paid tax on it and in principle said that there would be no conflict,” he said, leaving that the review then shifted; People claimed that although he did not own crypto, he was still invested in crypto funds.
Sacks made it clear that in addition to direct crypto holdings, he also withdrew from several crypt -focused investment funds, including positions in Bitwise, Multicoin capitaland blockchain capital.
“Right now I think they have basically given up this story,” Sacks said.
According to Calacanis, which handles one of the divested funds, the process of selling fund interests for discounts on “50%, 25% discount”, which can lead to eight or nine -digit losses for sacks.
Trump’s cryptots also dismissed the notion that he sought financial gain through his role. He revealed that he is taking an unpaid consulting role in the administration.
Sacks criticized the assumption that rich individuals enter the government for financial gain and called it “lazy and stupid.”
“It is a lazy and stupid story to say that the reason why someone who already succeeds with business enters the government is to make more money in some way. I made money before, he said. “This means a significant disturbance of my business interests.”
Sacks repeated that his divestments were necessary to avoid ethical problems, although it posed enormous financial loss.
“In divestment, I either have to pay taxes or take a significant discount. It costs you money, he said. “So it’s just a lazy story that people create. But there is no truth to it. “
Sacks has met public review of allegations of potential conflicts of interest tied to their role as Trump’s crypto and Ai Czar.
Critics, including Senator Elizabeth Warren, have caused concern that sacks may affect Trump’s election of altcoins for US crypto reserve and financially benefit from these elections, such as Include bitcoinEthereum, Soana, Cardano, and XRP.
The president eventually signed an executive order to Create a strategic bitcoin reserve And an American digital asset storage, with the help of legal forfeiture.
In an interview with Bloomberg TV on Friday, bags Clarified That Trump previously mentioned XRP, Sun and Ada because they were among the top five crypto assets after market value.
