David Sacks Slams Warren as Crypto Clash Hits Boiling Point

• Sacks unveils plan for U.S. Bitcoin reserve funded without taxes or debt.
• Warren raises ethics concerns and warns crypto could aid U.S. adversaries.

David Sacks, the Trump administration’s AI and crypto czar, has ignited a political firestorm over the future of digital assets in the U.S. In a flurry of public statements and interviews, Sacks accused Senator Elizabeth Warren of harboring a “pathological hatred” for crypto and working to drive the industry offshore.

Appearing on Fox Business on May 27 and later at the Bitcoin 2025 conference, Sacks declared, “Cryptocurrencies are the future financial system.” He emphasized that the Trump administration had reversed years of anti-crypto policy within its first 100 days in office.

Sacks highlighted new initiatives, including the Strategic Digital Asset Reserve, which allows the U.S. to increase Bitcoin holdings without raising taxes or debt—by reallocating unused funds.

“If Treasury or Commerce can find the money, we can buy more Bitcoin,” he told Cameron and Tyler Winklevoss during a panel in Las Vegas.

Trump’s Crypto Offensive: Pardon, Pro-Bitcoin Laws, and CFPB Defunding

Sacks boasted about the administration’s rapid-fire execution of pro-crypto policies. On Trump’s first day in office, Ross Ulbricht—creator of Silk Road—was pardoned. Within the same week, a sweeping executive order banned CBDCs, dismantled “Operation Choke Point 2.0,” and established a digital asset working group.

Sacks also revealed a set of crypto-friendly bills poised to pass, including the Stablecoin Bill and Genius Act. These aim to codify favorable regulations that cannot easily be repealed by future administrations. “This is about locking in a framework that Gary Gensler can’t unwind,” Sacks said.

He celebrated the defunding of the Consumer Financial Protection Bureau (CFPB), calling it Warren’s “personal goon squad” used to target crypto firms.

Warren Counters with Ethics Bombshell and Security Warnings

Warren didn’t stay quiet. In a March 6 letter, she had already demanded clarity on whether Sacks had sold his personal crypto assets before taking office. She cited holdings in Bitcoin, Ethereum, Solana, and Bitwise.

Sacks confirmed he divested in January, including his $74,000 Bitwise stake. Still, Warren questioned the timing—and transparency—of the ethics waiver granted to him. “Americans deserve leaders who don’t profit off their public positions,” she said.

She also warned that new pro-crypto laws could benefit “Trump insiders” and hurt everyday families. “Declaring memecoins as non-securities isn’t just reckless—it’s a handout to speculators,” Warren added

Warren further criticized the SEC for dropping cases against Coinbase, Kraken, and Robinhood. She warned that declaring memecoins as non-securities could help enrich speculators—including Trump insiders—at the expense of working families.

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