The "encrypted tsar" is out: 130 days of political performance and how much of Trump's encrypted promise remains

Original Odaily Daily@OdailyChinaI'm not sure

Author |Golem@web3 golemI'm not sure

Czar Encrypted David Sacks is leaving. David Sachs explained that he had resigned from his post because he had reached the 130-day limit for special government employees and that he would continue to participate in the relevant government affairs in the future as co-chair of the Presidential Council for Science and Technology。

On 6 December 2024, Trump announced the appointment of David Sacks as the White House Head of Artificial Intelligence and Encrypted Currency, who is directly known by Trump as “White House A.I. & A. & A. ; Cripto Czar”, so David Sacks received the title “encrypted tsar”。It's not an official name, it's just a role for David Sachs to formalize his influenceIn his letter of appointment, Trump specifically expressed his expectations in the area of encryption for David Sacks, “to promote a clear legal framework that would provide the long-needed clarity for the encrypted money industry to flourish in the United States”。

From a motivational point of view, in 2024 Trump made a lot of encrypted promises to gain the support of the United States encryption community, so that after his successful presidency he needed someone with the capacity to help him fulfil those promises, and David Sacks was the policy implementer in the Torrang general election。

David Sachs did live up to Trump's expectations and achieved some political gains during his 130-day tenure:CBDC WAS BANNED, THE FIRST WHITE HOUSE ENCRYPTION SUMMIT, THE ESTABLISHMENT OF THE UNITED STATES STRATEGIC BITCOIN RESERVE BILL AND THE PASSAGE OF THE CLARITY BILL。

David Sacks largely fulfilled several of the commitments made to the encryption industry during the Tromp campaign, and many were willing to write about his tenure as a victory narrative. On the surface, that's what it looks like, but actually looking back at what David Sacks did for the encryption industry, there's one feature --Politics is full, but the encryption industry has little sense of access. ThinI don't know。

In 130 days, David Sachs was not remodeling the encryption industry, he was just doing an encrypted political performance for Trump。

White House Encryption Summit = Trump Kwaquan

The show's reputation is to count the White House Encrypted Summit, which is supposed to be full of good faith and which is actually a full-scale roller。(Refer to:White House Encrypted Currency Summit: A political show with horses and slogansI'm not sure

On 7 March 2025, David Sacks, on behalf of Tripp, invited a group of encryption companies and industry figures to the White House, including a16z partners Chris Dixon, Ripple CEO, Robinson CEO, Strategy  founders Michael Saylor, Coinbase CEO, etc., and a group of dignitaries from the United States Government, including Tripp, the Treasury Secretary, etc。

Encryptors entered Washington, where this had not happened before, but most of them had gone to a hearing, to be scolded and to explain whether they were frauds. This time, the scene changed from a hearing to a White House, and the atmosphere changed from a sword to a decent picture. For the first time, an encryptionist was considered by the U.S. government as a guest, and David Sacks sat next to Trump, like the director in charge of the string。

At the White House Encryption Summit, David Sacks sat in Trump. Side

What did you say on the scene about such a high-end and highly anticipated government encryption conference

On the night of the Odaily Daily Daily, the press records of the live broadcast, all of them were picturing Trump's ass, saying that there were closed meetings defining the direction of encryption over the next four years and that no substantive policy documents had been issued throughout the event. Because of the disparity between the content of the meeting and the market expectations, after the Summit, the encryption market fell as well。

THIS SUMMIT IS OF COURSE SYMBOLIC, BUT THE PROBLEM IS PRECISELY THAT IT IS SYMBOLIC. IT'S ENCRYPTED THE TRUMP STATION AGAIN, BUT WHAT THE INDUSTRY WANTS MOST, LIKE UNIFIED, STABLE, PREDICTABLE BOUNDARIES, LIKE THE LONG-TERM RULES OF INSTITUTIONAL SECURITY, LIKE THE PROJECTERS DON'T HAVE TO GUESS THE SEC AND THE CFTC EVERY DAY ABOUT TOMORROW, OR THE REAL THING. IT'S GOING TO BE FUN AND EMOTIONAL, AND IT'S GOING TO END UP ON THE INDUSTRY, OR ON THE NEWS。

It is because the meeting itself was not planned. The original commitment at the time of Trump’s campaign to establish an encrypted currency commission, which was expected to allow encryption industry leaders to speak directly and continuously to the White House and the President, was not achieved for many reasons. That is why the White House has not held a second encryption conference of the same level so far。

II. Bitcoin strategic reserve = bitcoin in a different drawer

The second big thing David Sachs pushed for, the US strategic bitcoin reserve, seriously not a show, but a magic trick。

A few hours before the White House Encryption Summit, Trump signed an executive order to establish a strategic bitcoin reserve, but after the news, bitcoin prices fell. The central reason is that David Sachs explained that the Bitcoin strategic reserve was derived from bitcoin confiscated by the United States Government during previous criminal or civil asset forfeiture proceedings, rather than the newly purchased bitcoin, without spending a penny on taxpayers。

Although the Ministry of Finance and the Ministry of Commerce were authorized in the order to study the “budget” new currency purchase strategy, no clear purchase schedule or size was given. So, the way this Bitcoin strategic reserve goes to the market is that I will not sell bitcoin, but I will not buy bitcoin。

Trump signed the Bitcoin strategic reserve administration You

David Sachs, is this a good thing? Of course it's pretty for Trump, and it's not a cent, it's a promise。But it's only symbolic for the encryption industry, and what the market was expecting was for the United States government to increase the amount of bitcoin to inject liquidity and endorsement into the market, and finally, for “replace the originally seized bitcoin in a drawer”I don't know。

The genius bill is the real thing

The GENIUS bill could be David Sacks as the true credit for encryption of the Tsar。

ON 18 JULY 2025, TRUMP FORMALLY SIGNED THE GENIUS BILL IN THE EAST HALL OF THE WHITE HOUSE, MAKING IT A SIGNED LAND LAW. IT IS NOT ONLY SYMBOLIC, BUT ALSO PRACTICAL. IN TERMS OF ITS IMPACT ON INDUSTRY, THE GENIUS ACT ESTABLISHES A FEDERAL FRAMEWORK FOR DOLLAR-STABILIZING CURRENCIES, WHICH MEANS THAT THE CURRENCY GOES OUT OF ITS BARBAROUS GROWTH PHASE, GOES INTO COMPLIANCE AND BECOMES AN ENTIRELY NEW FINANCIAL INSTRUMENT WITH FEDERAL LEGAL FORCE ENDORSEMENT。

It wasn't done by David Sachs alone, but he did. There is, however, another bill, and the twin brother of the GENIUS Act, the CIAITY Act, is still in production. Together with the GENIUS Act, the Act was passed by the United States Congress on July 18, 2025, but until now it has not been able to complete the Senate process, but has been in a stalemate in banking and encryption negotiations。

TRUMP SIGNED THE GENIUS ACT

David Sacks had vowed that   the CLARITY Bill and the GENIUS Bill would be passed within the first & nbsp; 100 days of the current administration. So far, he's been punched in the face。

The CLARITY Act does not really belong to David Sacks, but he certainly has a part of the responsibility, just as he could do with some credit after the GENNIUS Act was passed. The White House Digital Assets Working Group, led by David Sachs, explicitly called the CLARITY Act “excellent foundation”, and since the White House has considered it as the core of market structure legislation, can David Sachs be a completely irrelevant bystander

The core deadlock of the bill is focused onThe banking sector and the encryption industry are in conflict with interest in stabilizing the currencyAccording to the latest revised version, the bank won, and on March 25, Circle (CRCL) stock prices fell by 18 per cent and Coinbase (COIN) by about 8 per cent. And if such an Act was passed, it would be a blow to DeFi as a whole。(Refer to:CLARITY rewrite the DeFi book: Circle Eat meat, DeFi loses bloodI'm not sure

This is not the same as the one originally promoted by Trump and David Sachs for the encryption industryIt is ironic that a bill promoting the development of the encryption industry will eventually benefit the banking sector rather than the encryption industry。

On March 4th, Trump, in his busy schedule, wrote about the encryption industry in the South SocialClaimsTHE UNITED STATES MUST PASS THE CLARITY ACT AS SOON AS POSSIBLE, AND AMERICANS SHOULD MAKE THEIR FUNDS MORE PROFITABLE. IT SEEMS THAT TRUMP IS STILL INTERESTED IN THE ENCRYPTION INDUSTRY, BUT IT WAS NOT UNTIL MARCH 24, WHEN THE LATEST AMENDMENTS TO THE ACT WERE PUBLISHED THAT WE SAW WHAT WAS MEANT BY “SYMMETRICAL”。

Now, "encrypted president" Trump is completely closed. As for David Sacks, the White House had written him a script long ago, as an encrypted tsar, standing in front of the stage and translating the Trumple campaign slogan, “Let the United States become a global encrypted capital”, into several decent political moves, and it was time to retreat. David Sacks, now co-chair of the Presidential Council for Scientific and Technological Advice, said that he would continue to work on artificial intelligence policies and technology strategies in the future, without even mentioning encryption。

The old encrypted tsar is gone, and Trump's obscurity with encrypted currency is over。