David Sacks, the AI of the Trump administration and the Czar Crypto, criticized the media to negatively portray the cryptocurrency market.
His remarks follow recent reports which have referred to his sale of more than $ 200 million in digital assets as a “discharge”.
For the context, David Sacks and his business, Craft Ventures, liquidated their entire cryptocurrency portfolio just before President Trump took office.
“Above all, you have already taken important measures to minimize conflicts of potential interests due to assets in digital assets to stop hundreds of millions of dollars in digital assets or entities of the digital asset industry,” said the white house memo.
According to the memo, the worked assets of sacks included Bitcoin (BTC), Ethereum (ETH) and Solana (soil). He also involved the sale of various funds and actions related to the crypto, such as the Bitwise 10 Crypto Index Fund, Coinbase (Coin) and Robinhood (Hood).
Nevertheless, Sacks went to X (formerly Twitter) to tackle media relationships that used the term “emptying” to describe its sale.
“I did not” pour “my cryptocurrency; I abandoned him, ”posted David Sacks.
He argued that the characterization was not only inaccurate but also intentionally misleading. The Czar Crypto stressed that it had been designed to damage the broader credibility of the cryptocurrency market. In addition, he stressed that the government’s ethics rules have forced its actions to avoid any appearance of conflicts of interest.
Sacks’ declaration resonated with several industry leaders. Changpeng Zhao (CZ), former CEO of Binance, expressed his support on X.
“They sell clicks, not ethics,” wrote Cz.
David Nage, ARCA portfolio director, also defended the actions of the Sacks and criticized the representation of the media.
“The Dump” Spin “of the media shows that” Don’t Trust, Verify “of the crypto compete with inherited systems built on blind confidence”, replied swimming.
Meanwhile, analyst Colin pleaded for cutting all of the government’s funding to media organizations. In addition, the co-owner without bank David Hoffman said that the media often reflected the opinions and prejudices of society as a whole, in particular with regard to the perceptions of the cryptocurrency.
He argued that most people are not involved in the crypto. In fact, they may not want him to succeed because the acceptance of his potential for wealth creation would force them to face a feeling of “cognitive dissonance” – the discomfort to keep contradictory beliefs, like not being involved in the crypto while seeing others benefit from it.
“The media holds the headlines to meet this need,” he added.
Interestingly, it comes in the midst of an increasing opposition to the establishment by Trump of a bitcoin reserve of digital and strategic assets by Trump. In fact, an investigation has revealed that a majority of voters share concerns about the involvement of the United States government in the development of crypto and blockchain. Many believe that the government should reduce its investment in these technologies.
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