Donald Trumps's assets are 'in a blind trust,' says David Sacks originally appeared on TheStreet .
David Sacks, the White House's crypto czar and innovation advisor , stated during a Bloomberg Technology interview that the new proposed stablecoin legislation could usher in a tremendous shift for U.S. digital finance.
Labeling the bill as "fantastic," Sacks went on to highlight how the stablecoin float could increase from $250 billion today to $3.7 trillion by 2030.
Join the conversation with Scott Melker on Roundtable Network here
The Senate has passed the bill , and now it awaits action in the House of Representatives. Sacks said it is near the "finish line" and thinks it will reach President Trump's desk soon. He cautioned about bundling it with more comprehensive market structure reforms, as bundling may stall the passage due to the lack of consensus around market structure reforms in the Senate.
Sacks reiterated that this bill is about stabilizing the issuance of stablecoins onshore with a requirement of quarterly audits and maintaining a 1:1 dollar reserve in a U.S. bank.
"It will give comfort to the traditional finance players to come in," he said, suggesting it could also promote dollarization globally and more demand for U.S. debt.
On President Trump's assets
He added that the bill might allow stablecoins to become a system of payments based on blockchain technology, which was a part of Trump's promise to make the United States "the crypto capital of the planet." Sacks dismissed concerns about conflicts of interest , saying,
Join the conversation with Scott Melker on Roundtable Network here
"The President's assets are in a blind trust. His sons are not in the government. They're adults and they're allowed to engage in business."
Furthermore, Sacks cautioned that treating export restrictions too strictly would mean conceding on semiconductor markets and relations with China.
"We want the American tech stack to win," Sacks said, "we want to be the partner of choice for the world."
Donald Trumps's assets are 'in a blind trust,' says David Sacks first appeared on TheStreet on Jun 20, 2025
This story was originally reported by TheStreet on Jun 20, 2025, where it first appeared.
