Massachusetts Senator Elizabeth Warren, rating member of the Senate Banking Committee, is asking for White Home AI and Crypto Czar David Sacks to again up his claims that he now not holds any digital property.
In a March 6 letter to Sacks, Sen. Warren suggested US President Donald Trump and “different personal people” would immediately profit from the chief department’s digital asset insurance policies. She expressed issues about Sacks’ potential conflicts of curiosity, requesting he make any monetary disclosures with the Workplace of Authorities Ethics public and supply details about his purported standing as a “particular authorities worker.”
March 6 letter to David Sacks. Supply: Elizabeth Warren
Sen. Warren cited Sacks’ involvement with the administration since Trump introduced his appointment as a crypto czar in December 2024. The US president signed an executive order in January to kind a working group exploring digital asset regulation — chaired by Sacks — together with a US crypto stockpile.
Trump stated on the government order signing that Sacks was going to “make some huge cash,” suggesting that he would personally profit from authorities insurance policies he was overseeing. On March 2, the US president introduced he had directed the working group to incorporate XRP (XRP), Solana (SOL) and Cardano (ADA) within the crypto reserve, along with Bitcoin (BTC) and Ether (ETH), which Sacks held however claimed to have sold earlier than Jan. 20.
Associated: David Sacks laments US government’s sale of Bitcoin
“President Trump’s March 2 announcement, and your ensuing announcement on March 6, have created confusion in regards to the Administration’s crypto plans, and raised critical questions on your historical past of crypto investments — together with investments in all 5 tokens the President initially proposed for inclusion in a ‘strategic reserve,’” stated the Massachusetts senator, including:
“Regardless of your public statements through X, it stays unclear precisely while you personally divested from BTC, ETH, and SOL, when Craft Ventures divested from Bitwise, and whether or not folks near you ‘might have held positions and bought into the latest value surge.’”
Many lawmakers and trade leaders have additionally criticized Trump for his potential conflicts of curiosity in launching a memecoin. Sen. Warren pointed to a Feb. 27 assertion from the US Securities and Change Fee saying it now not considered memecoins as securities, implying the company — underneath an performing chair chosen by the US president — took motion to immediately profit Trump.
Sen. Warren requested Sacks present solutions to her questions no later than March 14, additionally suggesting that he contemplate speaking on the issues on the White Home crypto summit. Trade leaders and crypto CEOs — a few of whose corporations have not too long ago had investigations or enforcement instances dropped by the SEC — shall be attending the March 7 occasion.
Journal: SEC’s U-turn on crypto leaves key questions unanswered
