David Sacks, the White House’s AI and crypto czar, is making it clear that the Trump administration is all in on crypto. In a Fox Business interview on May 27, Sacks said, “Cryptocurrencies are the future financial system,” and emphasized the need to promote the industry. He pointed to big progress in the first 100 days, including reversing what he called years of anti-crypto policies and delivering on campaign promises.
Recently, he accused Senator Elizabeth Warren of being an autopen in Biden’s era to stop innovation following her anti-crypto stance. This war inside the political arena came after Warren openly criticized Trump and Sacks for using crypto for their own interest.
Warren Hits Back at Trump’s ‘Big Beautiful Bill’
Not everyone is happy with this shift. Senator Elizabeth Warren blasted a new bill that narrowly passed the House, calling it a giveaway to the rich and a blow to Medicaid. She’s been a longtime critic of crypto and slammed the administration’s cozy relationship with the industry.
Sacks Fires at Warren, Calls Her Crypto’s Biggest Enemy
Sacks didn’t hold back either. He accused Warren of having a “pathological hatred” for crypto and wanting to drive the industry out of the U.S. His favorite win so far? Defunding the CFPB, a watchdog agency Warren helped create. He called it her “personal goon squad” used to pressure crypto companies. Sacks also praised upcoming crypto-friendly laws, such as the stablecoin bill and the Genius Act, which he says will establish pro-crypto rules that future regulators cannot easily undo.
Warren Raises Ethics Concerns
In response, Warren questioned Sacks’ ethics, pointing out that he advises on crypto policy while also running a venture capital firm that invests in crypto. Normally, that would be a conflict of interest, but the Trump administration gave him an ethics waiver, allowing him to help shape policies that could benefit his own investments.
The crypto debate in Washington is heating up, and it’s turning personal.
Sacks Hints at U.S. Buying More Bitcoin
However, despite the controversy, Sacks revealed that the Trump administration’s new Strategic Digital Asset Reserve could allow the U.S. to buy more Bitcoin if it’s funded without increasing national debt. Speaking at the Bitcoin 2025 conference, Sacks said the reserve is already seeded with Bitcoin seized by the Treasury, but it also permits future purchases. If Commerce or Treasury officials can reallocate funds from underused programs, without new taxes or borrowing, the government may expand its Bitcoin holdings.
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FAQs
David Sacks is the White House’s AI and crypto czar, leading the Trump administration’s pro-crypto efforts and advocating for cryptocurrency as the future financial system.
It’s a new Trump administration initiative to allow the U.S. to potentially acquire more Bitcoin, initially seeded with seized crypto, without increasing national debt.
