David Sacks, the US crypto czar, has made public his opposition to the ongoing conflict with Iran. In an interview on the All-In Podcast, he stated that it is time for the US to 'declare victory and get out' of the war. This marked a rare instance of dissent from within Trump's inner circle.
Sacks, who runs Craft Ventures and has investments in Palantir and SpaceX, expressed concerns about the impact of the war on the tech and crypto ecosystem he was tasked with building. The conflict has disrupted cloud services across the region, including AWS data centers in the UAE and Bahrain, and threatened market expectations.
The crypto market had already suffered a decline when the war began, but recovered as de-escalation signals were issued. Oil-linked perpetual futures volume on Hyperliquid reached $1.7 billion per day, roughly 250 times pre-war levels. Sacks' remarks were seen as a warning to policymakers that a long and bloody conflict could undermine their efforts to establish a regulatory framework for crypto.