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According to the official website, Craft Ventures has investments in Bitwise Asset Management, crypto custodian BitGo and social media giants Meta, Reddit and X. Sacks also invested in Solana-focused venture firm Multicoin Capital in 2018.
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The San Francisco-based venture capital firm was founded by Sacks in 2017 and has launched four funds since then. Its last one was closed in November after raising $712 million.
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“Both he [Sacks] and the firm sold their direct cryptocurrency holdings soon after Trump’s inauguration, according to a person with knowledge of the matter,” reported the FT.
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His comments came in response to a Financial Times article shared by George Hammond on March 2, reporting that Sacks’ investment firm, Craft Ventures, retains stakes in a “small number of crypto startups.”
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“I sold all my cryptocurrency (including BTC, ETH, and SOL) prior to the start of the administration,” Sacks said on X on March 2.
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“The thing people don’t really know about is that the government, in many cases, went to founders of DeFi protocols [...] and basically told the founders you effectively have to do a settlement with us,” Krug said on stage at the ETHDenver conference on Feb. 27.
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Meanwhile, Tether’s USDt remains the largest stablecoin with more than $140 billion in circulation. The USDt issuer clocked more than $13 billion in profits last year as its US Treasury holdings reached an all-time high.
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Both funds track indexes that hold crypto in proportion to each token’s market capitalization and hence consist overwhelmingly of BTC, which has a market capitalization of approximately $1.9 trillion as of Feb. 21, according to data from Google Finance.
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https://warpcast.com/jolinejones90/0x5a16e87a
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Kevin Hassett, the director of the National Economic Council — a White House advisory board to President Trump — said he is now meeting regularly with Federal Reserve chairman Jerome Powell to discuss interest rates.
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Strategy is the world’s largest corporate holder of Bitcoin, with 478,740 BTC currently worth around $46 billion, and its shares are seen as a way of gaining exposure to the cryptocurrency by proxy.
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Moro and DCG agreed to the civil penalties without admitting to or denying any violations of the Securities Act of 1933.
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According to the Jan. 17 filing, DCG and Moro have agreed to pay a combined $38.5 million in civil penalties, with DCG liable for $38 million and Moro liable for $500,000.
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The United States Securities and Exchange Commission has charged Digital Currency Group (DCG) and former Genesis CEO Soichoro “Michael” Moro with misleading investors about the financial health of Genesis in the aftermath of the Three Arrows Capital (3AC) collapse.
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According to the US Attorney, the Terraform co-founder facilitated transactions of more than $10,000 on the platform “knowing that the property involved in certain financial transactions represented the proceeds of some form of unlawful activity.”
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https://warpcast.com/carrie6084/0xfbb4699e
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Marketing at events is being tightened as well. Violators risk fines of up to 10 million dirhams, which equates to more than $2 million. This move was implemented in close cooperation with the federal Securities and Commodities Authority (SCA), illustrating the cohesive regulatory ecosystem that the UAE is building.
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On the marketing front, the Virtual Assets Regulatory Authority introduced stricter rules applicable across the entire UAE, not just the emirate of Dubai. Influencers and businesses promoting digital assets must now include clear risk warnings, refrain from guaranteeing returns and operate within a licensed framework.
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Australia has proposed stricter Anti-Money Laundering and Counter-Terrorist Financing (AML/CTF) rules aimed at tightening oversight of the cryptocurrency industry to combat financial crime.
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Still, in November, Hangzhou-based crypto mining-chip designer Nano Labs started accepting Bitcoin as payment for its goods and services through a business account on Coinbase.
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