You gotta love the newest drama in the crypto world. David Sacks, Trump’s crypto czar, just spilled the beans and told he’s out of the crypto game.
He sold all his Bitcoin, Ethereum, and Solana before Trump took office. No conflict of interest.
No skin in the game?
Now, you might be thinking, “But what about his firm, Craft Ventures?” Well, they still have stakes in some crypto startups, but Sacks himself? Clean slate.
His firm sold its direct crypto holdings right after Trump’s inauguration.
Craft Ventures is a big player, with investments in companies like Bitwise Asset Management and BitGo. But Sacks? He’s not holding any crypto personally.
Strategic reserve
And then there’s the news about Trump’s crypto plans. He’s hosting a White House Crypto Summit on March 7, bringing together the big guns to talk regulations and stablecoins. Oh, and let’s not forget the strategic crypto reserve announcement.
That sent crypto markets rising by 12%. Eric Trump was over the moon, saying it was genius to announce it on a Sunday when Wall Street was snoozing. Anthony Pompliano found it objectively hilarious that traditional finance couldn’t keep up.
Big changes
But here’s the thing, while Trump’s team is making noise, Sacks is keeping it cool. No personal crypto for him. It’s like he’s saying, “I’m in this for the strategy, not the speculation.”
And honestly, who can blame him? The crypto market is a mess sometimes, one day you’re up, the next you’re down. But hey, if you’re not in it for the thrill, you might as well sit this one out.
So, what does this mean for regular users? Well, it’s a reminder that even the big players are cautious.
They’re not all about the crypto hype, they’re about the long game. And if you’re thinking of jumping in, just remember,it’s likely a gamble.
But hey, if you’re feeling lucky, you may go for it. Just don’t say experts didn’t warn you.
Have you read it yet? The SEC’s crypto retreat means is the war on crypto really over?
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