YEREVAN (CoinChapter.com) — Senator Elizabeth Warren, a senior member of the Senate Banking Committee, is calling on David Sacks to disclose his financial records. In a March 6 letter, she questioned whether Trump’s AI and Crypto Czar had properly divested from crypto before taking office. Warren requested that Sacks make his financial disclosures with the Office of Government Ethics (OGE) public and clarify his role as a special government employee.
Trump’s Crypto Policies Raise Conflict of Interest Concerns
Sacks has been involved in crypto regulation since December 2024, when Donald Trump appointed him. In January 2025, Trump signed an executive order forming a working group to oversee digital asset policies. The group, chaired by Sacks, is responsible for developing a U.S. crypto stockpile.
On March 2, Trump announced that the crypto reserve would include XRP, Solana (SOL), and Cardano (ADA), alongside Bitcoin (BTC) and Ethereum (ETH). Sacks previously held BTC, ETH, and SOL, but he claimed he sold all holdings before Jan. 20. Warren questioned the timing of these transactions and whether his financial interests influenced crypto policy decisions.
White House Crypto Decisions Under Scrutiny
Warren pointed to Trump’s March 2 statement, where he said that Sacks was going to “make a lot of money” from his role. She highlighted concerns that Trump’s policies might financially benefit Sacks and others with crypto investments.
She also raised concerns about Craft Ventures, a venture capital firm co-founded by Sacks, which previously invested in Bitwise, a crypto index fund provider. Warren asked for information on when these investments were sold.
SEC’s Crypto Decision Sparks Further Questions
The U.S. Securities and Exchange Commission (SEC) announced on Feb. 27 that it would no longer classify memecoins as securities. Warren suggested that this decision, made under an acting chair appointed by Trump, might have benefited the president’s crypto interests.
She also noted that some crypto firms facing SEC investigations had their enforcement actions dropped, raising concerns about how crypto regulations are being handled under the current administration.
March 14 Deadline for Sacks’ Response
Warren requested that Sacks respond by March 14 with details on his crypto holdings and divestments. She also suggested that he speak at the White House crypto summit on March 7, where industry executives will discuss crypto regulation and policy changes.
Her demands come as lawmakers continue to question the role of crypto in government policies and how key figures in the administration might be financially impacted by digital asset regulations.
