David Sacks Denies Holding Crypto Assets Amid Community Doubts
Crypto Czar's Asset Disclosure Sparks Debate
David Sacks, appointed by President Donald Trump as the U.S. Crypto Czar, has confirmed selling his personal crypto holdings before assuming his role. This move aims to ensure transparency and credibility in shaping crypto policies.
Market Impact of Strategic Reserve Announcement
- Bitcoin (BTC): Surged 10.34% to $94,290 after Trump's announcement, now trading at $92,660.
- XRP: Spiked 24.28% to $2, currently at $2.63 after a 12.93% drop.
- Ethereum (ETH): Rose 14.2%, then fell 6.85%.
Community Notes Raises Questions
Community Notes, a fact-checking service, suggested Sacks retained Bitcoin ETFs via Bitwise. Sacks denied this, stating he sold all ETF shares by January 22 and promised further disclosure post-ethics review.
Implications of Asset Disclosure
As Crypto Czar, Sacks' policies will directly impact the crypto industry. His credibility hinges on proving zero holdings, addressing concerns and ensuring impartiality in regulation.
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