The post ‘Nothing burger’ – David Sacks blasts NYT’s ‘conflict of interest’ report appeared on BitcoinEthereumNews.com. David Sacks, the U.S. AI and crypto czar, has distanced himself from a recent New York Times (NYT) report alleging widespread conflicts of interest.   The report claimed that Sacks leveraged his influential White House role to push policy directions that benefited himself and his tech and crypto cronies. However, Sacks denied the allegations and slammed the report as a ‘bungled mess,’ a “nothing burger,” and sued the publisher for defamation.  Source: X Sacks’ crypto portfolio under scrutiny The report stated that Sacks retained 20 crypto investments, contradicting the previous statement by the White House that he had sold over $200 million in crypto positions to minimize conflict of interest.  “What is clear is that Mr. Sacks, directly or through Craft, has retained 20 crypto and 449 A.I.-related investments, according to The Times analysis.” In particular, the NYT alleged that Sacks pushed the stablecoin bill, the GENIUS Act, to advance his interest in BitGo. It added,  “In September, BitGo filed for an initial public offering. Craft owns 7.8 percent of the company, according to financial filings, which would be worth more than $130 million at BitGo’s 2023 valuation.” BitGo is a custody and a ‘stablecoin-as-a-service’ provider that built the infrastructure behind USD1, the stablecoin issued by Trump-backed World Liberty Financial (WLFI). However, the firm denied any benefit from the passage of the GENIUS Act. Sacks’ crypto policy push Sacks began Craft Ventures in 2017, targeting tech start-ups. However, he reportedly divested some of his investments in Bitcoin, Solana, and others to minimize a conflict of interest, according to a White House statement earlier in the year.  As a top policy figure shaping the White House’s role in crypto, Sacks secured some notable wins, including the passage of the stablecoin law and pushing back against some crypto-related debanking.  Still, the strategic BTC… The post ‘Nothing burger’ – David Sacks blasts NYT’s ‘conflict of interest’ report appeared on BitcoinEthereumNews.com. David Sacks, the U.S. AI and crypto czar, has distanced himself from a recent New York Times (NYT) report alleging widespread conflicts of interest.   The report claimed that Sacks leveraged his influential White House role to push policy directions that benefited himself and his tech and crypto cronies. However, Sacks denied the allegations and slammed the report as a ‘bungled mess,’ a “nothing burger,” and sued the publisher for defamation.  Source: X Sacks’ crypto portfolio under scrutiny The report stated that Sacks retained 20 crypto investments, contradicting the previous statement by the White House that he had sold over $200 million in crypto positions to minimize conflict of interest.  “What is clear is that Mr. Sacks, directly or through Craft, has retained 20 crypto and 449 A.I.-related investments, according to The Times analysis.” In particular, the NYT alleged that Sacks pushed the stablecoin bill, the GENIUS Act, to advance his interest in BitGo. It added,  “In September, BitGo filed for an initial public offering. Craft owns 7.8 percent of the company, according to financial filings, which would be worth more than $130 million at BitGo’s 2023 valuation.” BitGo is a custody and a ‘stablecoin-as-a-service’ provider that built the infrastructure behind USD1, the stablecoin issued by Trump-backed World Liberty Financial (WLFI). However, the firm denied any benefit from the passage of the GENIUS Act. Sacks’ crypto policy push Sacks began Craft Ventures in 2017, targeting tech start-ups. However, he reportedly divested some of his investments in Bitcoin, Solana, and others to minimize a conflict of interest, according to a White House statement earlier in the year.  As a top policy figure shaping the White House’s role in crypto, Sacks secured some notable wins, including the passage of the stablecoin law and pushing back against some crypto-related debanking.  Still, the strategic BTC…

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