Czar – Earlybirds Invest https://earlybirdsinvest.com Latest Crypto News Fri, 20 Jun 2025 07:10:42 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.7 https://i0.wp.com/earlybirdsinvest.com/wp-content/uploads/2024/12/cropped-New-Project-2024-12-17T235703.455.png?fit=32%2C32&ssl=1 Czar – Earlybirds Invest https://earlybirdsinvest.com 32 32 240146708 White House Crypto Czar David Sacks Says One Catalyst Could Create Trillions of Dollars of New Demand for US Treasuries https://earlybirdsinvest.com/white-house-crypto-czar-david-sacks-says-one-catalyst-could-create-trillions-of-dollars-of-new-demand-for-us-treasuries/ https://earlybirdsinvest.com/white-house-crypto-czar-david-sacks-says-one-catalyst-could-create-trillions-of-dollars-of-new-demand-for-us-treasuries/#respond Fri, 20 Jun 2025 07:10:42 +0000 https://earlybirdsinvest.com/white-house-crypto-czar-david-sacks-says-one-catalyst-could-create-trillions-of-dollars-of-new-demand-for-us-treasuries/

President Donald Trump’s advisor on crypto and artificial intelligence (AI), David Sacks, is highlighting a catalyst that could dramatically increase demand for US treasuries.

In a new Bloomberg interview, Sacks says the passing of the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act) in the U.S. Senate and the potential signing of the piece of legislation into law offers “regulatory clarity and stability” for the stablecoin crypto sector.

According to Sacks, the GENIUS Act could trigger massive demand for US government debt from various parts of the world.

“… the [stablecoin] float is expected to grow from, call it, roughly $250 billion to trillions of dollars. And that would create more demand for the US dollar internationally. I think you could see other economies start to dollarize from the bottom up as their citizens would prefer to use US digital dollars as opposed to whatever fiat currency they’re using. And that would create potentially trillions of dollars of new demand for US treasuries.”

The GENIUS Act will also spur innovation in the payments industry, according to the White House advisor.

“And I think that the bill will provide the framework that will give confidence to a lot of traditional financial players to enter the space. And so I think you’re going to see new stablecoin products. And I think you will also see stablecoins being used as payments. I think this is one of the really exciting things about the bill, is that blockchain infrastructure will be used as a new kind of dollar-based payment system, that’s faster, more efficient, smoother. It’s a payment system of the future.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Elizabeth Warren targets Elon Musk and White House crypto czar David Sacks with new ethics reform bill https://earlybirdsinvest.com/elizabeth-warren-targets-elon-musk-and-white-house-crypto-czar-david-sacks-with-new-ethics-reform-bill/ https://earlybirdsinvest.com/elizabeth-warren-targets-elon-musk-and-white-house-crypto-czar-david-sacks-with-new-ethics-reform-bill/#respond Tue, 15 Apr 2025 14:46:10 +0000 https://earlybirdsinvest.com/elizabeth-warren-targets-elon-musk-and-white-house-crypto-czar-david-sacks-with-new-ethics-reform-bill/

A coalition of US lawmakers led by Senator Elizabeth Warren has introduced a new ethics reform bill targeting Special Government Employees (SGEs) like Elon Musk and White House crypto advisor David Sacks.

The proposal, titled the Special Government Employee Ethics Enforcement and Reform (SEER) Act, seeks to apply stricter transparency and accountability standards to individuals serving in advisory roles while maintaining private sector ties.

SGEs are part-time federal workers allowed to serve up to 130 days a year. Unlike full-time officials, they are not always required to disclose their financial interests unless they surpass a specific pay grade.

This structure has raised concerns about conflicts of interest, especially in cases involving high-profile figures like Elon Musk, who serves in advisory capacities while holding leadership roles in private companies with federal contracts.

Senator Warren argued that individuals like Musk, who benefit from major government deals, should not be allowed to operate in such ethical gray zones. According to her, Musk earns millions from government contracts yet avoids the disclosure requirements expected of senior officials.

The SEER Act has received support from a broad coalition of advocacy and watchdog groups. These include Public Citizen, Citizens for Responsibility and Ethics in Washington (CREW), the Project On Government Oversight (POGO), State Democracy Defenders, Campaign Legal Center, the American Federation of Government Employees (AFGE), and the National Treasury Employees Union (NTEU).

SEER’s key provisions

The SEER Act would expand existing ethics rules to cover SGEs starting from their 61st day in office. After 130 days, SGEs would be prohibited from receiving outside compensation related to their non-government roles.

The bill also introduces stricter conflict-of-interest rules. SGEs who lead companies with federal contracts or monopolistic power would be barred from engaging with agencies that regulate or contract with those companies.

Meanwhile, the legislation requires the Office of Government Ethics to approve all conflict-of-interest waivers for SGEs to increase public oversight. It also mandates public access to these waivers and financial disclosures.

Additionally, the Office of Personnel Management would create a public database listing all SGEs, including the number of days served and the reason for their classification.

If passed, the SEER Act would raise the ethical bar for part-time government advisors and limit the influence of corporate leaders in shaping federal policy behind closed doors.

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Crypto Czar David Sacks Says US Government May Accumulate More Bitcoin To Add to Strategic BTC Reserve https://earlybirdsinvest.com/crypto-czar-david-sacks-says-us-government-may-accumulate-more-bitcoin-to-add-to-strategic-btc-reserve/ https://earlybirdsinvest.com/crypto-czar-david-sacks-says-us-government-may-accumulate-more-bitcoin-to-add-to-strategic-btc-reserve/#respond Mon, 10 Mar 2025 17:11:53 +0000 https://earlybirdsinvest.com/crypto-czar-david-sacks-says-us-government-may-accumulate-more-bitcoin-to-add-to-strategic-btc-reserve/

The Trump Administration’s Crypto Czar says the US could gobble up more Bitcoin (BTC) to add to its upcoming strategic reserve.

In a new interview on the All-In Podcast, renowned venture capitalist and Crypto Czar David Sacks says that the government would be allowed to purchase more of the top crypto asset by market cap to add to its strategic reserve if certain budgetary conditions are met.

“I’m talking about Treasury and Commerce – they’re allowed to figure out strategies to accumulate more Bitcoin for the reserve if those strategies are budget neutral and don’t cost the taxpayer anything. So it’s possible that we could, I’m not saying that we will, but it authorizes them to acquire more Bitcoin if they can figure out a way to do it that doesn’t impact the federal budget or the deficit or taxpayers.”

Last week, President Donald Trump signed an executive order (EO) creating a strategic Bitcoin and crypto reserve. The EO establishes a national BTC and crypto asset stockpile by holding digital assets seized from criminal activities rather than auctioning them off as had been previous practice.

Also last week, Sacks revealed that the US Federal Government lost out on tens of billions of dollars in Bitcoin growth by previously selling some of the BTC it had in its possession. As stated by Sacks at the time,

“If the government had held the Bitcoin, it would be worth over $17 billion today. That’s how much it has cost American taxpayers not to have a long-term strategy.”

According to data from market intelligence firm Arkham, the Federal government currently holds about $16.4 billion worth of the flagship digital asset.

Bitcoin is trading for $82,524 at time of writing, a 3.2% decrease on the day.

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