Senator Elizabeth Warren made bold statements. She accused the U.S. President's representative for artificial intelligence and cryptocurrencies, David Sachs, of investing in the Bitwise index fund, which includes 5 assets for the future crypto reserve. These are $BTC , $ETH , $SOL , #xrp , and #ADA , which were previously announced by the Donald Trump administration.
Warren sent a critical letter to Sachs at the Digital Assets summit at the White House. She raised questions about possible conflicts of interest for Sachs and his team. The senator emphasizes that public benefit should prevail over personal gain and calls for details of the transactions to be disclosed.
Sachs, as a special government employee, is granted certain exceptions from ethics rules. He previously stated that he sold all of his cryptocurrency assets. At the same time, Sachs had partnerships with Craft Ventures, which invested in companies like Fold Lightning Labs and Bitwise.
The latter creates investment indices from digital currencies. The five largest assets in Bitwise 10 match those announced for the country's future strategic crypto reserve. Sachs claims he has closed his positions, and Craft Ventures announced its exit from the company.
White House representatives signed an order to create a strategic Bitcoin reserve and a separate state reserve of digital assets. It will be funded only by cryptocurrencies confiscated from criminal activities and does not anticipate additional purchases. Senator Warren demands to name the individuals involved in forming the list of virtual currencies. She also asked Sachs to publish a report in the Office of Government Ethics and provide evidence of the absence of personal investments in the specified cryptocurrencies.#WhiteHouseSummit
