White House 'AI and Crypto Czar' Sacks Gets Ethics Waiver Amid UAE Deals
The White House's 'AI and crypto czar,' David Sacks, has received an ethics waiver to participate in decisions despite financial holdings linked to the UAE's Sheikh Tahnoon. Meanwhile, a series of deals involving the UAE, the Trump administration, and prominent figures have raised eyebrows in the crypto and world news sectors.
Sacks, who holds investments from the Abu Dhabi Investment Authority (ADIA), now overseen by Sheikh Tahnoon, has been granted a waiver to engage in policy decisions that could potentially impact his financial fidelity. This comes amidst a flurry of deals between the UAE and the U.S.
In one such deal, World Liberty, a crypto company with ties to the Trump family, struck a $2 billion investment agreement with MGX, a company co-founded by G42 and chaired by Sheikh Tahnoon. This investment, using World Liberty's stablecoin, catapulted the company into the global crypto news limelight. Coincidentally, the Trump administration and the UAE simultaneously pushed forward a deal granting the UAE access to advanced AI chips, with many going to G42, controlled by Sheikh Tahnoon.
The connections run deeper. Steve Witkoff, who served as Trump's Middle East envoy, advocated for the UAE's chip access while his and Trump's family-founded company, World Liberty, received Emirati investment. Zach Witkoff even announced the $2 billion investment from Sheikh Tahnoon's firm in Dubai. However, World Liberty's disclosures suggest a more complex picture, with Witkoff's full exit not yet materializing despite earlier declarations.
The UAE's access to high-performance chips, facilitated by a Microsoft partnership, also raised questions. While the UAE received limited access, G42 agreed to remove certain Chinese technology from its supply chain. Notably, Microsoft has invested $1.5 billion in a supercomputing hub in Abu Dhabi as part of the Stargate project. The transaction with World Liberty provided the company with a de facto deposit base of $2 billion, potentially generating tens of millions in annual revenue.
The intersecting interests between the UAE, the Trump administration, and prominent figures in the crypto and tech sectors have sparked debate. While these deals may bring mutual benefits, the potential conflicts of interest warrant scrutiny. As the crypto and AI sectors continue to evolve, so too will the need for transparency and ethical oversight.
Read also:
- State Supreme Court Rules in Favor of Hogg Hummock Residents, Referendum on Zoning Change to Proceed
- Germany's Coalition Explores Social Security Reforms Amid Record Spending
- chaos unveiled on Clowning Street: week 63's antics from 'Two-Tier Keir' and his chaotic Labour Circus
- Skechers Debuts First American Stores Focused on Athletic Footwear Performance
