David Sachs is defending the pulling of encryption against media criticism

David Sachs, Amnesty International and the White House CZAR, criticized the media for what he described as an unfair depiction of his decree to liquidate his digital possession.

He explained that this step was not a reflection of the lost confidence in digital origins, but it is a necessary step to comply with the rules of government ethics.

Bags speak

On March 18 mail In X, the bags responded to the reports that he claimed to “threw” his encryption investments, saying:

“Why do the media always want to photograph encryption in the worst light?

According to the US Government Ethics Office, officials who have personal digital asset investments must filter their holdings before participating in the policy -related policies.

Earlier this month, Saacks confirmed that he sold all its digital origins. Government of March 5 note He revealed that his investment company, Craft Ventures, had stripped more than $ 200 million of Crypto Holdings after his appointment by President Donald Trump. The 52 -year -old has emptied at least $ 85 million of encryption before taking over.

The two had previously had prominent classes in the digital asset industry, including stocks in Robinhood, Coinbase and Limited partnerships at the Multicoin Capital and Blockchain Capital.

While Craft Ventures maintains investments in some of the startups for encryption, the bags no longer have a direct exposure to digital assets. His indirect interests include stakes in Bitgo Bitgo and Bitcoin Protocol Labs, which represent about 2.5 % and 1.1 % of its total assets.

General audit and defense

Crypto CZAR scrutinized after Trump announced early March that some cryptocurrencies, including Solana, will be part of the National Digital Assets Reserve. Critics suggested that, given his role, he used the opportunity to add to his wallet. Doubts grew when the president officially allowed the establishment of the Bitcoin Strategic Reserve and the Digital Asset store later that week.

Responding to these allegations, the official motive Simple by announcing the public that he has already sold many of his possessions to avoid any conflicts of interests.

His argument was also supported by prominent characters in the encryption industry, including Cameron Winkelvos, co -founder of Jamini, who I mentioned On X, “He is doing a tremendous job and will not participate in any of the economic trend to avoid even the slightest appearance of the conflict.”