“The President’s AI and Crypto Czar Says He’s Sold His Crypto Positions, But Questions Still Remain About His Other Investments.”, – WRITE: www.coindesk.com
The President SAID ON SUNDAY THAT A FUTURE US Crypto Reserve Will Hold Tokens Including XRP, SOL, ADA, ETH AND BTC. Ada soared by 60% within minutes of the announcement, and all of the other listed tokens experienced doubble-digit price Bumps.
The Market Response ImmediaTely Drew to the Range of Ways in Ways in a Wich Trump and His Inner Circle Could Stand To Benefit From His Crypto Policies.
Among The MOST OBVIUS PETENTIAL BENEFICIARIES WAS SACKS, WHOSE VENTURE FIRM, CRAFT VENTures, Is INVESTED IN BITWISE—A Crypto Index Fund Manager with Holdings in All the Digital Tokens Named in Trump’s Statement – And of the Other Crypto Startups. In the past, Sacks also Disclosed personal investments in some of the tokens listed by the president.
Following Sunday’s Announcement, Sacks Stated On X, “I Sold All My Cryptocurrency (Including BTC, ETH, AND SOL) PRIR to the Start of the Administration. INVESTMENT IN BITWISE, SACKS ADDED, “I HAD A $ 74K Position in the Bitwise etf, WHICH I SOLD ON JANUARY 22. I DO NOT HAVE ‘LARGE INDIRECT HOLDINGS.’ ” ” ” ” ” ” ‘”
IT is unclear if sacks retains a direct stake in bitwise through craft Ventures, where he remains a partner. Sacks Led Craft Ventures’ 2017 Seed Investment Into Bitwise, and The Venture Firm Still Lists Bitwise in Its Portfolio.
A representative for craft ventures declined to share anything beynd Saps’ X Posts. The FIRM Told the Financial Times on Sunday that It Still Has Stakes in Someptocurrency Companies.
Bitwise Operates A Series of Exchange-Traded Funds (ETFS), Including A “10 Crypto Index Fund,” WHICH CONTAINS All OF The TKENS SLATED FOR TRUMP’S RECERVE. The FIRM HAS ALSO SUBMITTED APPLICATIONS TO OPERATE ETFS FOR XRP AND SOL, AMONG Other Tokens. If the applications arepaved, bitwise would beefit from height heighened interest in the assets if they’re’re included in a US Crypto Reserve.
Bitwise Did Not Respond to A Request for Comment.
Courting CryptoSacks Will Host A First-of-O-Cind of White House Cryptocurrency Summit on Friday, Dringing Which More Details about the Administration’s Plans for the Industry Arestry.
Trump Has Worked Hard Over The Past Year to Court Supporters in the Cryptocurrency Industry – One of the Largest Corporate Donor Groups to the 2024 Election. While The President’s Anti-Regulatory Posture Has Been Welcomed By the Industry, Even Some of His Pro-Crypto Suppoorrs Have Begun to FEAR) and xrp (xrp) Risks delegitimizing the Sector.
The President’s Own Cryptocurrency Businesses have Aded to CoonCerns AROUND PETENTIAL CONFLICS OF INTERESTEST.
In january, Trump launched a meme coin, Trump, on the Solana Blockchain – The Network Behind the Sol Token. Meanwhile, World Liberty Financial (Wlfi) – A Decentralized Finance Venture Backed by the President and His Sons – Has Built It Own Treasury of Crypto Assets. The Treasury Includes Some of the Same Tokens Listed for Inclusion in the Federal Crypto Reserve, Meaning Any Boost in Price Could Osibly Benefit Trump Directly.
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