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U.S. Senator Elizabeth Warren has questioned the cryptocurrency profits made by White House AI & Crypto Czar David Sacks during a recent Senate hearing.
Warren, known for her skepticism towards cryptocurrencies and blockchain technology, expressed concerns over Sacks’ potential gains from his involvement in the crypto sector. The Senator’s inquiry comes amid market fluctuations and widespread criticism of the industry’s lack of transparency and regulatory oversight.
“Can you explain to me how your involvement with cryptocurrency investments might have influenced your decisions as AI & Crypto Czar?” Warren asked during the hearing, her tone stern and skeptical.
Sacks, however, vehemently denied any conflict of interest or impropriety in his dealings. He emphasized that his roles at White House and as a private entrepreneur are clearly separate, and he has not utilized his position to benefit from his investments.
“I understand Senator Warren’s concerns, but I assure you that my actions have been guided solely by the best interests of the American people,” Sacks said. “I will continue to work tirelessly with the administration to ensure fair regulation and transparency in this space.”
Despite the Senator’s questions, it remains unclear whether Sacks has made any significant cryptocurrency profits or investments. The White House has not released any information regarding his financial dealings.
As a prominent figure in both the crypto and mainstream tech industries, David Sacks’ involvement in the cryptocurrency sector has raised eyebrows. Warren’s inquiry highlights the growing need for accountability and transparency within the industry, particularly among influential figures like Sacks.
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