Senator Elizabeth Warren calls for greater transparency in David bag His role as a crypto and artificial intelligence advisor to the Donald Trump administration.
In a March 6 letter, Warren urged Sack to support digital asset choices, prove he has not personally benefited from policies that weaken regulatory oversight and facilitate enforcement action against the crypto industry.
Warren emphasized that her letters are necessary because civil servants must prioritize national interests over personal financial interests.
According to her:
“Americans deserve a strong leader who prioritizes the public interest before their profits.”
Bag Crypto Holdings
In the letter, lawmakers said Sachs had previously sold his holdings of Bitcoin, Ethereum and Solana before he took on the role of government.
However, Warren has requested specific details about when these sales occurred and confirm when his investment company, Craft Venture, withdraws its position at its leading crypto asset manager, Bitwise Investments.
According to lawmakers:
“Despite your official statement via X, it remains unclear exactly if it was sold personally from BTC, ETH and SOL, when the craft venture was sold from Bitwise, and if people nearby you could have “hold the position and sold to the recent price surge.”
Warren requested transparency as to whether Sacks submitted financial disclosures to the Government Ethics Bureau and how long he plans to serve in his current role.
Crypto-protected zoning questions
Beyond Sacks’ Crypto Holdings, Warren raised concerns about Trump’s proposed crypto strategic sanctuary that suggests the US government should hold Bitcoin, Ethereum, XRP, Solana and Cardano.
She said the crypto strategic sanctuary move “could benefit a small number of people who are wealthy and well-connected at the expense of taxpayers.”
With this in mind, Warren questioned who knew about Trump’s national crypto spare plan and how the specific tokens were encompassed.
Warren wrote:
“Who will work with President Trump to determine which cryptocurrency tokens should be included in the strategic reserve proposed on March 2?”
SEC Execution
Additionally, Warren questioned whether the U.S. Securities and Exchange Commission (SEC) decision was designed to protect certain market players, including Trump’s crypto ventures, such as a soft stance on Memocoin.
She wrote:
“The (SEC) statement could directly benefit President Trump and first lady Melania, who launched two meme coins, $Trump and $Melania during President Trump’s inauguration weekend.”
She also raised concerns about the financial regulator’s decision to withdraw the lawsuit against Coinbase and suspend legal action against controversial crypto entrepreneur Justin Sun.
Warren argues that these actions could disproportionately benefit billionaires investors and management insiders.
She said:
“These actions could benefit billionaires, Trump administration insiders, and speculators at the expense of middle-class families.”
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