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## Sachs Eliminates Digital Currency, Though What About Trump? His Electronic Kingdom Remains
Shortly before Trump’s swearing-in on January 20, Sachs and Craft disposed of their complete digital currency collection, including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), according to a White House document quoted by Bloomberg.
These disposals involved Sachs relinquishing his shares in Coinbase and Robinhood, along with his limited partnership holdings in digital currency funds Multicoin Capital and Blockchain Capital.
The update was revealed on March 5 by White House legal advisor David Warrington.
Donald Trump’s artificial intelligence and digital currency “chief,” David Sacks, including his venture capital company, Craft Ventures, lately unloaded as much as $200 million in digital assets.
Craft Ventures did the same, trading its holdings in Bitwise Asset Management and Multicoin Capital.
He explained on X (previously Twitter): “Correct. I traded all my digital currency (including BTC, ETH, and SOL) before starting in this administration.” He even directly replied to venture capital reporter George Hammond’s tweet on March 3, making his stance extremely apparent.
Sachs has repeatedly stated that he is no longer involved in digital currency – at least not since becoming the White House digital currency chief. By selling his digital currency holdings before assuming the role of digital currency advisor, Sachs is evidently distancing himself from any possible partialities.
Democratic Senator Elizabeth Warren has also been pushing Sachs to publicly reveal his financial disclosures.
Though what about Trump’s history on this subject? That’s another story.
## Possible Clashes of Interest
Official Trump is presently down about 83.5% from its all-time high. What about those supporters? They lost billions of dollars.
On the verge of the swearing-in, Trump launched his own meme coin, Official Trump (TRUMP) – a token with no real purpose. Though that didn’t prevent it from gaining a fanatical following and reaching a peak of $150 billion.
According to current investigations by the Financial Times, a venture, apparently associated with Donald Trump, has already accumulated a minimum of $350 million in its initial three weeks. Despite assertions that neither Trump nor his partners are vending or allocating the meme coin, Trump’s firms, CIC Digital and Fight Fight Fight LLC, seem to be the chief supporters, possessing an astonishing 80% ownership in the token.
Trump’s digital currency initiatives do not conclude there. Last September, he inaugurated World Liberty Financial, a decentralized finance platform promoting the WLFI token, supposedly involving his sons Eric, Don Jr., and Barron.
World Liberty Financial has produced considerable funds through token trades, with current reports suggesting a total of almost $600 million collected thus far. Crypto.news stated last month that over 24 billion tokens have been traded, leaving only about 950 million tokens obtainable.
Notably, Trump endorsed a subsequent executive decree on March 6th to form a U.S. Bitcoin and digital asset reserve. While this action indicates a possible alteration in U.S. digital currency strategy, it persists to be observed whether altcoins will be incorporated in the reserves.
**Partnership with Binance?**
Gossip is circulating about possible discussions between Binance and Trump or World Liberty Financial for the transaction of monetary shares in its U.S. sector. These conversations allegedly commenced as Binance, the world’s biggest crypto exchange, aims to reconstruct its existence in the U.S. market.
It’s uncertain whether this agreement depends on a pardon for Binance’s originator and previous CEO, Changpeng Zhao, who has confronted legal obstacles. Disclosing the Enigmas of the MyShell Marketplace: A Whale’s $12.15 Million SHELL Extravaganza
Binance has lately encountered noteworthy legal matters connected to regulatory obedience and money laundering accusations.
Under a Trump government, digital currency enterprises like Binance could possibly profit from a more lenient regulatory atmosphere.
I observe that the Trump-designated leaders of the United States Securities and Exchange Commission have resolved to suspend multiple probes into cryptocurrency firms, such as Binance. These inquiries were originally commenced throughout President Biden’s period in power.
