On the day of the White House’s inaugural Digital Assets Summit, Senator Elizabeth Warren sent a poignant letter to David Sacks, the designated cryptocurrency and AI czar of the administration.

Warren has disclosed parts of her letter to news source Axios, seeking clarification on potential conflicts of interest stemming from Sacks’ past investments in cryptocurrency firms.

💥BREAKING:
SENATOR ELIZABETH WARREN ACCUSED CRYPTOCURRENCY CZAR DAVID SACKS OF INVESTING IN BITWISE’S INDEX FUND.
THIS FUND INCLUDES STRATEGIC RESERVE ASSETS.
SHE KEEPS ATTACKING CRYPTO! pic.twitter.com/kVrN2YtfMy
— Hannah (@cressida_fx) March 7, 2025

Warren Demands Clarity On Government’s Support Of Blockchain Industry

In her letter, Warren posed several inquiries about potential conflicts of interest concerning himself and his associates. She argues that Sacks, being a special government employee, benefits from certain ethical exemptions, making their financial disclosures maintain confidentiality.

Moreover, Warren mentioned Sacks’ prior association with Craft Ventures, a US-based venture capital firm that has funded several crypto companies, including Fold, Lightning Labs, and Bitwise.

Notably, the largest holdings of the Bitwise 10 index are the same cryptocurrencies that Trump identified for an anticipated crypto strategic reserve, namely Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ripple (XRP), and Cardano (ADA).

Despite Sacks’ claim that he divested all his cryptocurrency assets before joining the Trump team, Warren indicated that there are ways to keep exposure indirectly.

Warren emphasized that “Americans deserve strong leaders who will prioritize the public’s interest over personal financial gain. I urge you to address these pressing concerns.”

Correct. I sold all my cryptocurrency (including BTC, ETH, and SOL) prior to the start of the administration. https://t.co/dN6nuGQUtu
— David Sacks (@DavidSacks) March 3, 2025

Senator Warren Wants Answers On Key Cryptocurrency Decisions

Warren further articulated her concerns regarding ethical concerns surrounding Trump’s administration’s decisions about pertinent assets.
On March 6, 2025, the administration publicized an executive order to launch both a “Strategic Bitcoin Reserve” and a separate US “Digital Asset Stockpile.”

While specific assets were not highlighted, Trump had previously signaled BTC, ETH, XRP, SOL, and ADA could be considered for the national stockpile.
The administration asserted that any acquisitions would derive solely from assets confiscated from criminal undertakings, and it will not pursue purchases.

Following this announcement, the values of all mentioned assets declined sharply, leading to a broader market downturn.

Her inquiries encompass identifying those who assisted Trump in selecting the cryptocurrencies and whether any relevant trades were executed prior to the announcement.

So far, there has been no public response from Sacks or other members of the Trump administration regarding Warren’s letter.

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