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David Sacks who serves as the United States lead figure for AI and crypto policy has pushed back against a recent report that accused him of using his role for personal gain. The report came from a major news outlet and claimed that Sacks had shaped policy in ways that helped him and his business partners. Sacks responded with strong words calling the report a mistake and a nothing burger. He has also taken legal action by suing the publisher for defamation.

The report said that Sacks still holds a large number of crypto and tech investments. This surprised many because earlier in the year the White House said he had sold more than two hundred million worth of crypto to avoid any conflict of interest. The report claimed he kept twenty crypto investments and more than four hundred investments linked to AI. One of the main claims was that he pushed a stablecoin bill called the Genius Act because it would help BitGo. BitGo is a company that offers custody services and helps build stablecoin systems. The report said that an investment fund linked to Sacks owns a part of BitGo worth more than one hundred million at its old valuation. BitGo denied that the new law would give it any special benefit.

Sacks began his investment fund in twenty seventeen and focused on technology start ups. Earlier this year he sold some positions in Bitcoin Solana and other assets to avoid direct clashes with policy decisions. Even with these sales he still plays a key role in shaping national crypto policy. Under his watch the White House helped pass a stablecoin law and stepped in against unfair treatment of crypto companies by banks. But another major bill about a national Bitcoin reserve and market rules has not yet been passed.

Many leaders in the crypto world have supported Sacks after the report. The head of the largest stablecoin issuer said the criticism is without merit and suggested that the same group of people often attacks other big names in the tech and crypto space. Other voices in the industry said this looks like a coordinated effort to weaken the growing crypto sector. They argued that Sacks has been one of the few strong supporters of the industry inside the government and they praised his work.

The debate has now moved beyond one report. It has turned into a larger fight over how the government handles crypto and how public officials with past investments should be judged. Sacks insists that he did not use his role for personal gain and that the claims made against him are wrong. His supporters say the report is an attempt to slow down progress and hurt the people who are trying to push crypto forward in the United States.

At this moment the situation remains tense. Sacks is fighting the claims in court while the industry stands behind him. The outcome of this dispute may shape how future crypto policy is viewed and how much trust the public places in the people making those decisions.
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David Sacks — the leading figure guiding U.S. policy on AI and crypto — has strongly denied a recent report accusing him of using his government role for personal financial advantage. The article, published by a major news outlet, suggested Sacks influenced policy in ways that benefited himself and his business partners.

Sacks responded firmly, calling the claims “a mistake” and “a nothingburger,” and has filed a defamation lawsuit against the publisher.

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The Allegations

The report claimed Sacks still holds extensive crypto and tech investments, despite earlier statements from the White House saying he had sold over $200 million in crypto to avoid conflicts of interest.

According to the report:

He allegedly retained 20 crypto holdings

And more than 400 AI-related investments

One key accusation was that he supported the Genius Act, a stablecoin bill, to benefit BitGo — a company that provides custody services and helps build stablecoin systems. An investment fund tied to Sacks is said to hold a stake valued at over $100 million at BitGo’s previous valuation.
BitGo, however, denied that the legislation offers them any special advantage.

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Sacks’ Background & Policy Influence

Sacks founded his investment fund in 2017, focusing heavily on tech startups. Earlier this year, he sold positions in Bitcoin, Solana, and other assets to avoid direct conflicts with upcoming policy decisions.

Despite divesting some holdings, Sacks remains a major voice in shaping national crypto policy. Under his leadership:

The White House helped push through a stablecoin regulatory framework

The administration took action against banks allegedly restricting crypto companies

However, another significant bill — involving a U.S. Bitcoin reserve and broader market structure rules — is still pending.

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Industry Reaction

The crypto community has rallied behind Sacks.

The CEO of the world’s largest stablecoin issuer called the accusations baseless

Others argued this is part of a pattern of attacks on prominent figures in tech and crypto

Many believe the report is a coordinated attempt to slow down the fast-growing crypto sector

Supporters emphasize that Sacks has been one of the strongest advocates for crypto inside the U.S. government.

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Bigger Picture

What began as a single report has evolved into a broader debate about:

How policymakers with past investments should be evaluated

How the U.S. government approaches crypto regulation

Whether public officials can maintain trust while shaping fast-moving financial policies

Sacks maintains he has never used his position for personal gain, and his supporters argue the accusations aim to undermine progress in U.S. crypto innovation.

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What’s Next?

The situation is still unfolding:

Sacks is actively fighting the allegations in court

The crypto industry is publicly backing him

The outcome could influence future regulatory decisions and public trust in officials shaping crypto policy

#CryptoInsights #CryptoNewss #LatestUpdate #Binance

*: A Technical Analysis*
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*Disclaimer*

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