President Trump's announcement of plans to establish a federal cryptocurrency reserve led to a surge in digital asset markets, including a 60% increase in ADA. However, concerns over conflicts of interest arose, particularly regarding David Sacks, Trump's crypto and AI czar. Sacks's venture firm, Craft Ventures, is invested in Bitwise, a crypto index fund manager that holds the tokens mentioned by Trump. Sacks claimed to have sold his cryptocurrency prior to the administration but it remains unclear if he retains a stake in Bitwise. Bitwise's ETFs could benefit from their inclusion in a US crypto reserve. Sacks will host a cryptocurrency summit on Friday, where more details about the administration's plans are expected. Trump's own cryptocurrency businesses and his sons' involvement in decentralized finance have added to concerns about conflicts of interest.



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