David Sacks, the “AI and Crypto Tsar” of U.S. President Donald Trump, signed a series of execution orders in Washington, D.C. on January 23, 2025, in which he spoke to President Trump.
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The Trump Tech Alliance shows its first real sign of distress. This is because of cryptocurrency.
President Donald Trump Relying on part of crypto executives and investors 2024 campaign funds. If the regulations are passed and the regulations are passed Turn around The United States enters the “Earth’s Encrypted Capital Bitcoin The superpower of the world. ”
The president started quickly and signed Executive Order Call for the establishment of a working group for digital assets and pardon Silk Road creator Ross Ulbricht. The same is true for SEC Falled Its years of investigation Common cases.
While the moves were praised by the biggest voice technology that supported Trump’s candidacy, the president seemed too far to them on the weekend. In Sunday’s Truth Social Post, Trump announces Create a strategic crypto protected area For the United States, not only Bitcoin, but also several other digital currencies – ether,,,,, XRPSolana’s sol Token and Cardano’s Aida.
For the most part, Trump’s crypto supporters want strategic Bitcoin reserves. Such a move would require the use of cash to buy Bitcoin, which is widely seen by crypto enthusiasts as a smart way to deploy capital into decentralized currencies, which is considered a replacement for hard money. Brian Armstrong, CEO of Coinbase Write On X, Bitcoin provides a “clear story as a successor to gold.”
By going beyond Bitcoin, Trump will use U.S. taxpayer funds to buy risky assets with unproven value and potentially enhance the net worth of a few investors who own coins, critics say. It’s even more problematic for those who want to base on trillions of dollars. Elon Musk’s The so-called cost-cutting task of government efficiency sectors.
“Taxes are theft,” Joe Lonsdale, founder of venture company 8VC, in Post on X. “It should be kept to a minimum. It’s wrong to steal my money to the left; it’s wrong to tax my crypto brothers program.”
David Sacks, venture capitalist Tap Trump is the exception to “White House AI and Crypto Czar”, and Lonsdale’s comments suggest that it is too early to draw any conclusions. Sacks and Lonsdale are part of the same conservative circle in the tech world, with Musk and Peter Thiel at the center.
“No one announced tax or expenditure plans,” Sack Writerespond to Lonsdale’s post. “Maybe you should wait to find out what is actually proposed.”
The White House did not respond to a request for comment.
But Lonsdale is far from enough to be alone.
Long-term tech investor and early crypto evangelical navy Naval Ravikant, Write In announcing that “U.S. taxpayers should not withdraw liquidity for cryptocurrencies that are decentralized only in their nominal form.” Vinny Lingham, creator of blockchain startup Civic and a big crypto influencer, Write“Call me old fashioned, but I don’t think the government should use taxpayer money to pump our crypto bags when we’re experiencing a nearly $2 deficit.”
The entire industry reached an agreement
Crypto’s main supporters and big names joined the choir on Monday. Billionaire Bitcoin investor Tyler Winklevoss wrote before the November election that you should vote for Trump “if you care about the future of cryptocurrency, freedom of speech, justice, freedom and democracy”, oppose the president’s crypto reserve plan.
“I have nothing to do with XRP, SOL or ADA, but I don’t think they are suitable for strategic reserves,” Winklevoss Write. “Now, there is only one digital asset in the world that meets the criteria and the digital asset is Bitcoin.”
David Marcus, former head of Facebook’s failed crypto project, suggested that most of his peers in the cryptocurrency community share the same view.
“If not all, most (if not all) agree with this,” Marcus wrote.
Marcus Announced in July He is “over rubicon” and transferring his support to Trump and staying away from Democrats.
Anthony Pompliano makes a huge pro-Trump voice in Crypto Investing, his 1500+ words communication Monday is about this topic. He said Trump was willing to put forward an agenda for buying risk tokens on behalf of the United States because the wrong person met him.
“We watched crypto projects, lobbyists and special interest groups and therefore chose the President of the United States,” Pompliano wrote. “They told the president that any reserves related to crypto should hold tokens that are ‘Made in the United States’. This stadium is a perfect trap for the president who is running for the first agenda of the United States.”
Some online anger is specifically targeted at Saxophone, which touted and supported various cryptocurrencies before joining the Trump administration, and its company’s Craft Ventures is an investor in fund managers at Crypto Index drill.
The cartoon image of US President-elect Donald Trump is depicted in front of the White House along with cryptocurrency tokens in honor of his inauguration and was exhibited on Monday, January 20, 2025 at a Coinhero store in Hong Kong, China.
Paul Yeung | Bloomberg | Getty Images
The sack is in Post on X Prior to taking on the new role, he sold all cryptocurrencies, including Bitcoin, Ether and Saul, and “will provide updates at the end of the ethical process.”
By late Monday afternoon, crypto prices have already begun A dramatic reversal From the weekend, Trump announced the news. Bitcoin fell by about 9%, while Ether glided 15%. XRP and SOL have dropped more.
The slideshow appears to be related to President Trump’s confirmation of upcoming tariffs, which slammed risk assets across the board and signed the Nasdaq by nearly 3% at the end of the deal.
There are some voices in cryptocurrencies who are reluctant to publicly criticize Trump’s preparation plan.
Michael Saylor strategyIt is actually a Bitcoin agent due to its approximately $43 billion in storage, told CNBC on Monday that he was not surprised by Trump’s decision to include other cryptocurrencies.
“There is no other way to be optimistic about bitcoin and bullish views across the U.S. cryptocurrency industry,” Saylor said. “I believe the best thing about the country is to move forward with an enlightened gradual policy towards digital assets.”
Jonathan Jachym, head of global policy and government relations at Kraken, told CNBC that crypto exchanges “encourage seeing this announcement”, which shows that the president “keeps the promise.”
Even among skeptics, Trump does not seem to have lost his broad support for his agenda because of the news. Supporters like Lonsdale soon posted information on other matters, praising Defense Secretary Pete Hegseth and Trump for putting pressure on the Mexican drug cartels.
But within six weeks of Trump’s second administration, the response showed how quickly anger machines could activate when the proposal hits the nerves of key supporters. The debate has increased interest in Trump’s first White House crypto summit on Friday, when investors will eagerly wait for more details.
As Sacks wrote on March 2 First article Regarding the announcement of strategic reserves, “more needs to be done at the summit.”
watch: The United States needs an “enlightened, progressive” crypto policy
