Today in crypto, angel investor Jason Calacanis stirred controversy in the Bitcoin community, Telegram founder Pavel Durov left France and relocated to Dubai following approval from a French court. David Sacks and his venture capital firm sold over $200 million in crypto and crypto-related stocks before working for the White House.
Uber angel investor stirs Bitcoin debate with ‘build a better Bitcoin’ remark
A technology investor who backed ridesharing app Uber in its early days has sparked backlash from the Bitcoin community after claiming Bitcoin will inevitably be replaced by something better.
“Bitcoin has been a wonderful game, but with a couple of giant players cornering the market, the timing is right to “build a better Bitcoin” — restarting the game,” prominent angel investor and internet entrepreneur Jason Calacanis told his 981,600 X followers on March 14.
Founders and executives of Bitcoin-related companies were quick to push back, arguing that Bitcoin will not be replaced, though there’s still room for a dominant layer-2 protocol to emerge on top of the Bitcoin network.
Swan Bitcoin co-founder Brady Swenson said, “Winning protocols don’t get replaced; they are built upon.”
Telegram founder Pavel Durov given permission to leave France
Pavel Durov, founder of the popular messaging app Telegram, has left France and relocated to Dubai following approval from a French court.
On March 13, Durov reportedly received permission from the French court to depart the country, allowing him to travel to Dubai — a city known for its business-friendly environment and lack of extradition agreements with many nations — according to a Barron’s report citing unknown sources.
Citing unnamed sources, AFP reported that “He (Durov) departed France this morning,” adding that he left with the authorities’ approval. Another source stated that he had been granted permission to leave France for “several weeks.”
Sacks and his VC firm sold over $200M in crypto and stocks before WH role
David Sacks and his venture capital firm sold over $200 million in crypto and crypto-related stocks before he commenced his role as the White House AI and crypto czar, a White House memorandum disclosed.
“You and Craft Ventures have divested over $200 million of positions related to the digital asset industry, of which $85 million is directly attributable to you,” said the memorandum dated March 5.
The memorandum said “significant steps” were taken to reduce potential conflicts of interest before Sacks began his tenure as the White House AI and crypto czar — in which a major part of his role is to help create a legal framework for the crypto industry.
Sacks offloaded all the “liquid cryptocurrency” in his portfolio, as well as Craft Ventures’ portfolio — the investment firm he co-founded in 2017 — including holdings in Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), before US President Donald Trump’s inauguration on Jan. 20.
