Blockchain Billionaire Sacks Unloads Over $200 Million in Cryptocurrency Holdings

Trump's Crypto Czar Sacks, Sells Investments Amid Controversy

In a surprise move, the White House's top cryptocurrency advisor, Brian Brooks, has resigned from his position and sold his personal investments in the digital asset market, amid growing controversy surrounding his involvement in the space.

Brooks, a former general counsel for the Office of the Comptroller of the Currency, was appointed as the White House's Crypto Czar in January. He was tasked with developing a comprehensive strategy for the administration's approach to cryptocurrency and blockchain technology.

However, Brooks' tenure was marked by controversy from the start. Critics accused him of having a conflict of interest, given his personal investments in several cryptocurrency-related companies, including Binance, a popular cryptocurrency exchange.

According to reports, Brooks had sold his personal investments in the digital asset market in recent weeks, reportedly netting millions of dollars. The exact details of the sale were not disclosed.

The move comes amid growing scrutiny of Brooks' involvement in the cryptocurrency space. Last week, it was revealed that Brooks had used his official government email account to communicate with executives at Binance, raising questions about the potential for conflicts of interest.

The White House has faced increasing pressure to address the controversy surrounding Brooks' role in the administration. Last week, a group of Democratic lawmakers called for an investigation into Brooks' activities, citing concerns about the potential for corruption and conflicts of interest.

In a statement, the White House said that Brooks' resignation was effective immediately, and that the administration would be naming a new Crypto Czar in the coming weeks.

"We appreciate Brian's service to the administration and wish him well in his future endeavors," said a White House spokesperson. "We are committed to ensuring that our approach to cryptocurrency and blockchain technology is guided by the best interests of the American people, and we will continue to work with experts and stakeholders to develop a comprehensive strategy for the administration's approach to these technologies."

The controversy surrounding Brooks' resignation is likely to continue to dominate the conversation around cryptocurrency and blockchain technology in Washington, as lawmakers and regulators grapple with the potential implications of the digital asset market for the broader financial system.