Trump’s Meme Coin, Crypto Ventures ‘Irrelevant’ to Industry Regulation: David Sacks
Analysis
Price Impact
LowThe news focuses on the potential conflict of interest between trump's crypto ventures and his administration's crypto policies. while it raises ethical questions, it doesn't directly suggest any immediate price movement for major cryptocurrencies.
Trustworthiness
HighThe information is sourced from a reputable news outlet (decrypt) and references statements made by a white house advisor and sec policies.
Price Direction
NeutralThe news presents conflicting information. it discusses potential regulatory benefits for meme coins and adjustments in crypto policies that could be seen as supportive, but also raises concerns about conflicts of interest, creating uncertainty.
Time Effect
ShortAny impact would likely be short-lived, contingent on further regulatory actions or public perception shifts related to the conflict of interest.
Original Article:
Article Content:
Decrypt’s Art, Fashion, and Entertainment Hub. Discover SCENE White House crypto czar David Sacks deflected questions Friday about President Donald Trump’s potential crypto conflicts of interests, claiming that the president’s own digital asset ventures—like his controversial meme coin —are “irrelevant” to the administration’s policy in the same area. “I don’t think it’s had any impact,” Sacks said when asked whether Trump’s own crypto projects have affected industry regulation. “I think it's kind of irrelevant to what we're doing here.” When asked shortly thereafter about the president’s “personal investment” in cryptocurrencies like Bitcoin , Trump’s advisor offered a sharp rebuke. “Those are facts not in evidence,” Sacks said. Prior to his White House return, Trump has lent his brand to numerous crypto projects, including an Ethereum decentralized finance platform, World Liberty Financial , a Solana meme coin, TRUMP , and multiple collections of NFT trading cards . Each of those projects appears to have reaped considerable profits—and benefited from the president’s endorsement. Trump-related companies reaped millions of dollars from the initial sale of those NFT collections, for example, while the gradually unlocking TRUMP tokens that will eventually be held by his companies are currently valued above $10 billion in total. It is not publicly known, though, how much of that revenue has gone directly to the president’s pockets. In the case of World Liberty, an LLC associated with Trump will receive 75% of net revenue the protocol makes in excess of $30 million—a figure that, per on-chain data from Dune , could be greater than $200 million from the WLFI token sale alone. Ever since the start of Trump’s second term, federal regulators have also adjusted their crypto policies in ways that benefited the president’s own projects. Just days after Trump’s meme coin launched, the head of the SEC’s new crypto task force, Hester Peirce, said the token would likely not fall under the regulator’s jurisdiction. Weeks later, the SEC issued an official statement announcing that meme coins should generally not be considered to be securities. Edited by Andrew Hayward Daily Debrief Newsletter Start every day with the top news stories right now, plus original features, a podcast, videos and more. Your Email Get it! Get it!