TechFlow news, December 6 — According to Cointelegraph, David Sacks, the newly appointed cryptocurrency lead in the Trump administration, is a staunch supporter of Solana and an investor in the crypto investment firm Multicoin Capital.
Sacks publicly disclosed during episode 50 of "All-In" in October 2021 that he had purchased large amounts of SOL at a discounted price. By the end of 2023, he referred to SOL as one of the "biggest turnarounds" and stated he did not sell his SOL holdings during the FTX collapse. In December this year, during episode 159 of the podcast, Sacks emphasized that SOL delivered a 92% annual return and dismissed rumors about him dumping SOL after the FTX incident.
Besides investing in SOL, Sacks also backed Multicoin Capital, a firm focused on the Solana ecosystem. In 2018, Sacks joined venture capitalist Marc Andreessen and other investors in making a significant investment in Multicoin.
