David Sacks, the White House’s AI and Crypto Czar, has confirmed that he sold off his entire crypto portfolio before entering the Trump administration. In a recent X post , Sacks confirmed that he no longer holds Bitcoin (BTC), Ethereum (ETH), or Solana (SOL). His statement directly responded to a recent report claiming he was still undergoing a government ethics review. Sacks assured the public that he would provide a full update on his holdings once the review was complete. Crypto Czar Still Has Crypto Ties While Sacks may no longer personally own crypto, his venture capital firm, Craft Ventures, still has stakes in the industry. The firm sold its crypto holdings soon after President Trump took office but is still investing in crypto startups. Some people believe David Sacks is still involved in crypto through investment funds, shares in blockchain companies, or other financial ties. There were also claims that Sacks had indirect crypto holdings due to Craft Ventures’ investment in Bitwise, a crypto asset management firm. Sacks called these claims a lie . He stated he had a $74,000 position in a Bitwise ETF, which he sold on January 22. Nevertheless, he promised further transparency once the ethics review is complete. David Sacks: A Key Player in Crypto Regulation Despite the questions surrounding his investments, many in the crypto space see Sacks’ appointment as a win. He has years of experience in venture capital and early investments in blockchain startups. His deep experience in the industry makes him an important voice in setting crypto rules. As the leader of the President’s Digital Asset Working Group, he is expected to help shape the future of U.S. crypto regulations. Since taking office, Sacks has focused on creating transparent and fair rules for the crypto industry since he resumed office. He is working on stablecoin rules and helping Senate and House committees create a clear crypto policy. In a recent interview, he said NFTs and memecoins are “collectibles” instead of risky investments This perspective focuses less on their cultural value over price volatility. All Eyes on the White House Crypto Summit Sacks’ disclosure comes just days before the first-ever White House Crypto Summit , scheduled for March 7. The event will bring together top crypto leaders, including founders, CEOs, and investors. President Trump is also expected to attend, showing the government’s growing interest in digital assets. Since Sacks no longer owns crypto, he can now focus on leading the government’s crypto policies without conflict of interest. The industry will be watching to see how his leadership shapes the future of U.S. crypto regulations. The post David Sacks Dumps Crypto Holdings Before Taking White House Role appeared first on TheCoinrise.com .
Tether appoints Simon McWilliams as new CFO to enhance transparency. The company commits to a comprehensive financial audit of its reserves. Continue Reading: Tether Appoints New CFO to Boost Financial Transparency The post Tether Appoints New CFO to Boost Financial Transparency appeared first on COINTURK NEWS .
U.S. lawmakers have launched the Congressional Crypto Caucus, a coalition aiming to shape digital asset policy and defend blockchain innovation as demand for crypto-friendly legislation rises. US Lawmakers Establish Congressional Crypto Caucus Congressman Ritchie Torres and House Majority Whip Tom Emmer have announced the launch of the Congressional Crypto Caucus, a bipartisan group aimed at
The U.S. Senate is set to vote this week on a resolution to repeal an Internal Revenue Service (IRS) rule that has drawn strong opposition from the crypto industry due to its potential impact on decentralized finance (DeFi). Lawmakers are using the Congressional Review Act (CRA) to challenge that regulation and another last-minute rule from the Consumer Financial Protection Bureau (CFPB) affecting digital payment apps, according to a source familiar with Senate planning. The IRS rule, introduced in December, sought to expand the definition of intermediaries that must report tax information. The change was met with resistance from the crypto industry, which argued that DeFi platforms would be unfairly targeted. Senator Ted Cruz is leading a Senate resolution to eliminate the IRS regulation, while Senator Pete Ricketts is leading a similar effort against the CFPB rule. “The Biden administration has done everything it can to stifle financial innovation in the United States by threatening to send digital asset companies overseas,” Majority Leader John Thune said. “The Senate is working to roll back these burdensome regulations one by one to restore financial freedom for the American people.” Related News: Why Has the Bitcoin (BTC) Price Fallen Yet Again? Trading Below $90,000 The House Financial Services Committee recently introduced a resolution targeting the IRS rule, paving the way for a vote in the House. If the Senate approves, the resolution will require the President’s signature to become law. “In a stroke of midnight, the Biden administration issued a decentralized finance rule that will directly and immediately harm American crypto innovation and drive development offshore,” Senator Cruz said. “This week, Congress will vote on my resolution to repeal this regulation. I am confident we will do so.” The CRA sets strict deadlines for repealing federal agency regulations, as each measure must be repealed within a limited legislative session after it is passed. The Senate effort reflects broader Republican priorities and echoes moves by former President Donald Trump’s administration to dismantle regulations enacted by his Democratic predecessors. The CFPB rule, which has also been targeted by lawmakers, aims to regulate big tech companies that operate digital wallets and process high-volume consumer payments, such as Apple, Amazon and Google, under a framework similar to major U.S. banks. Senator Ricketts criticized the rule as a rushed effort following the Biden administration’s election loss. *This is not investment advice. Continue Reading: There Will Be Intense Cryptocurrency Spotlight In The US Senate This Week – Here Are The Details Of The Development Expected To Be Positive
The launch of the first congressional crypto caucus signifies a pivotal moment for the cryptocurrency industry, as lawmakers unite to shape legislative outcomes. This initiative not only reflects growing bipartisan
The first of its kind group will allow pro-industry lawmakers to vote as a bloc on key legislation.
Crypto investors got a massive boost on Sunday after President Trump unveiled a Crypto Strategic Reserve and revealed five select coins set for inc...
Investigators revealed each victim was tricked into investing a minimum of $610, resulting in a total loss of up to $2.4 million.
Leading cryptocurrency exchange Binance has revealed plans to delist nine stablecoins for users in the European Economic Area (EEA) on March 31 as regulatory pressure intensifies. The company noted that the affected stablecoins do not comply with the Markets in Crypto-Assets Regulation (MiCA) framework. Binance to Delist USDT on March 31 In an official blog post , Binance stated that it will delist the largest stablecoin, USDT, along with eight other stablecoins, including Dai, FDUSD, TUSD, USDP, AEUR, UST, USTC, and PAXG, and their trading pairs. EU customers can still trade these assets until the deadline of March 31, 2025. After the deadline, Binance will discontinue all trading pairs involving these stablecoins, and any remaining holdings can only be sold through Binance Convert. Additionally, all pending spot orders will be terminated within 48 hours. Meanwhile, Binance noted that MiCA-compliant alternatives, like USDC and EURI, will remain available. Therefore, users are encouraged to convert their non-compliant stablecoin holdings to USDC, EURI, or fiat currencies like EUR before the deadline. The exchange has also unveiled several special offers geared towards assisting users in their transition, including zero-fee promotions and higher interest rates on Earn products. There is also a $1 million USDC giveaway for users trading USDC or EURI. MiCa Compliance Deadline Looms Binance’s announcement comes off the back of similar moves by several top exchanges, including Kraken. Earlier in January, Coinbase’s CEO, Brian Armstrong, stated that the exchange could delist USDT if regulatory pressure persists. The recently introduced MiCA framework imposes stricter regulatory guidelines for crypto-assets, including stablecoins. The framework mandates every stablecoin issuer operating within the EU to obtain authorization as a credit or electronic money institution. Additionally, these firms also provide comprehensive documentation of the key features and technical aspects of their tokens. The framework is designed to boost transparency and ensure consumer protection. The post Binance to Delist Nine Non-MiCA Stablecoins in Europe, Including USDT And DAI appeared first on CryptoPotato .
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