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David Sacks, the White House AI and crypto czar, has vehemently rejected allegations of financial misconduct in his role as Trump’s appointee. In a recent interview with Bloomberg TV, he labeled the claims as “lazy and stupid.”
Sacks made it clear that he had cleared all his direct crypto holdings before taking office, stating that his venture firm Kraft had liquidated approximately $200 million in assets, of which $85 million was personally attributable to him. He further emphasized that these divestments were necessary to avoid any ethical concerns.
“It’s a lazy and stupid narrative to say that the reason why someone who’s already successful in business goes into government is to somehow make more money,” Sacks argued during the interview. “I was making money before. This involves a substantial disruption of my business interests.”
Sacks highlighted the importance of transparency, revealing that he had withdrawn from multiple crypto-focused investment funds, including positions in Bitwise, Multicoin Capital, and Blockchain Capital.
In his defense against allegations of potential conflicts of interest tied to his role as Trump’s appointee, Sacks asserted that it is “just a lazy narrative” created by critics. He underscored the necessity of divesting from crypto assets, stating that it costs him money in the form of paying taxes or taking a significant discount.
As the controversy surrounding his involvement in the administration continues to unfold, Sacks has refuted allegations of financial misconduct, reiterating his commitment to serving as an unpaid consultant.
Source: https://cryptobriefing.com/crypto-manipulation-accusations-david-sacks/
