coinpedia 2025-03-19 11:38:50

David Sacks Slams Media for False Crypto Sale, Clarifies ‘Divestment, Not Dumping

The post David Sacks Slams Media for False Crypto Sale, Clarifies ‘Divestment, Not Dumping appeared first on Coinpedia Fintech News President Trump’s Crypto Czar David Sacks, a key figure in U.S. crypto policy, has spoken out against media reports that claimed he “dumped” his cryptocurrency holdings. In a tweet post, Sacks clarified that his decision to sell was a required divestment, not a sudden sell-off meant to crash the market. Why Did David Sacks Sell His Crypto? Sacks, who serves as the White House’s crypto policy leader, took to X to clear the claim of dumping his crypto. https://twitter.com/DavidSacks/status/1902098045942292675 He stated that his firm, Craft Ventures, sold over $200 million in digital assets, including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) due to ethical obligations tied to his government role before President Trump took office. However, the controversy started when reports claimed that Sacks offloaded his holdings even though the market remained stable. This led to speculation that he had lost faith in the sector. However, Sacks noted that his decision had nothing to do with market trends and was purely a matter of following government rules. Media Backlash Over Sell-Off Sacks criticized the media for portraying his actions as negative, arguing that such narratives harm the image of cryptocurrency. He pointed out that crypto is often unfairly scrutinized, despite its growing role in the financial world. His statement aimed to reassure the crypto community that his decision was a legal requirement rather than a personal judgment on the market’s future. Crypto Community Backs Sacks Many in the crypto space supported Sacks, calling out the media for twisting the story. Binance’s former CEO, Changpeng Zhao (CZ), defended him, saying, “They sell clicks, not ethics.” David Nage from Arca also weighed in, arguing that the media’s narrative reflects a misunderstanding of cryptos. Even Bankless co-owner David Hoffman added another perspective , saying that many people outside of crypto don’t want to believe in its success. He argued that negative headlines cater to those who feel uncomfortable seeing others profit from digital assets. With crypto becoming more political, the debate over regulations and government involvement will likely continue. But for now, Sacks remains firm his crypto sale wasn’t a reckless move, but a necessary step under government rules.

Meist gelesene Nachrichten

Bitcoin’s Hot Supply Drops 50% in 3 Months –...
2025-03-20
Canary files for PENGU ETF
2025-03-20
Argentina’s Senate Hosts First-Ever Conferenc...
2025-03-20
Accenture warns Musk’s Doge-led spending crac...
2025-03-20
Sonic price prediction 2025-2031: Will S reac...
2025-03-20
ZachXBT Exposes Hyperliquid Whale’s $20M Prof...
2025-03-20
Unlock Revolutionary Web3 Music: Label AI’s T...
2025-03-20
Identity of Whale Who Leveraged 50x Leverage...
2025-03-20

Ähnliche Neuigkeiten

Urgent Alert: Euro Dips as ECB Growth Reduction Wa...
20 Mar 2025
Bitcoin’s Volatility Rises Amid U.S. Economic Unce...
20 Mar 2025
Who’s responsible when something breaks in DeFi?
20 Mar 2025
Bitcoin Volatility Jumps to 6-Month High Amid 'Unu...
20 Mar 2025
Canary Capital Proposes ETF for PENGU Token and Pu...
20 Mar 2025
SEC Drops Appeal in Ripple Case: XRP Surges 14%
20 Mar 2025

Lesen Sie den Haftungsausschluss : Alle hierin bereitgestellten Inhalte unserer Website, Hyperlinks, zugehörige Anwendungen, Foren, Blogs, Social-Media-Konten und andere Plattformen („Website“) dienen ausschließlich Ihrer allgemeinen Information und werden aus Quellen Dritter bezogen. Wir geben keinerlei Garantien in Bezug auf unseren Inhalt, einschließlich, aber nicht beschränkt auf Genauigkeit und Aktualität. Kein Teil der Inhalte, die wir zur Verfügung stellen, stellt Finanzberatung, Rechtsberatung oder eine andere Form der Beratung dar, die für Ihr spezifisches Vertrauen zu irgendeinem Zweck bestimmt ist. Die Verwendung oder das Vertrauen in unsere Inhalte erfolgt ausschließlich auf eigenes Risiko und Ermessen. Sie sollten Ihre eigenen Untersuchungen durchführen, unsere Inhalte prüfen, analysieren und überprüfen, bevor Sie sich darauf verlassen. Der Handel ist eine sehr riskante Aktivität, die zu erheblichen Verlusten führen kann. Konsultieren Sie daher Ihren Finanzberater, bevor Sie eine Entscheidung treffen. Kein Inhalt unserer Website ist als Aufforderung oder Angebot zu verstehen