David Sacks, the crypto of President Donald Trump and the artificial intelligence tsar, was criticized this week following allegations according to which he could benefit financially from the announcement by Trump from an American strategic crypto reserve.
The initiative, on which Trump shared details on Sunday, would imply that the government has a reserve of digital assets, notably Bitcoin (BTC), Ethereum (ETH), XRP, Cardano (ADA) and Solana (Sol). Critics have raised fears that individuals in the administration with links with these assets may be to be won of the decision.
Sacks, a venture capital with investments from previous crypto, quickly became a focal point of the controversy. During the weekend and Monday, he responded to X (formerly Twitter), rejecting accusations that he had a financial interest in politics. He said that he had given in to all his assets linked to personal cryptography before joining the administration, including his participation in Multicoin Capital, an investment company focused on crypto.
A persistent question, however, was whether Craft Ventures – the venture capital company of Sacks – had retained its investment in Bitwise, a Crypto index fund manager that Sacks helped finance in 2017. Bitwise investment products include an ETF which holds all the active ingredients mentioned in the Trump strategic reserve plan, which could benefit from what could benefit from what Government crypto.
On Tuesday, a source close to Craft Ventures confirmed to Coindesk that the fund left its position in Bitwise before the start of the president’s second administration. The Craft Ventures website was also updated Tuesday to reflect that it had left its Bitwise investment in January 2025.
Craft Ventures, Bitwise and Sacks have not yet publicly commented on the apparent release. The source close to Craft Ventures told Coindesk that the company had not commented on publicly so as not to disturb the customs process of the government of the bags, which is currently underway.
In his defense of social media, Sacks rejected all the controversy. “The accusation that people who are already doing very well in business go to government to earn more money is a lazy and stupid story”, “,” He wrote. “As I have learned, government service implies substantial disruption and disintegration of its commercial interests.”
The debate on the reserve proposed by Trump continues to divide the cryptographic community. Some supporters of the president of cryptography maintain that a reserve only Bitcoin would be preferable, while others wonder if the government should be involved in digital assets – arguing that government intervention in cryptographic space contradicts the decentralized ideals of the industry.
The questions of conflict of interest also continue to swirl around the president himself. The Trump’s backyard startup, World Liberty Financial, has a treasure of around $ 500 million in cryptographic assets, some of which are listed in its Sunday reserve announcement.
