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#sacks

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This is what Sheldon Wolin called “inverted totalitarianism”

“The Billionaire War on Democracy: Tech Oligarchs’ Hostile Takeover of America”

by Don Knight in Midnight Manuscripts on Substack

“If you haven’t been paying attention to the tech billionaire movement to turn the U.S. government into a technocracy, now is the time to start—because it’s happening in real time”

open.substack.com/pub/donovanw

The Midnight Manuscripts · The Billionaire War on Democracy: The Tech Oligarchs’ Hostile Takeover of AmericaBy Don Knight

Judge demands ‘some kind of evidence’ from Trump’s EPA to halt climate grants

Federal judge Tanya Chutkan issues restraining order pending new filings over billions in axed research grants

A federal judge considering the Trump administration’s abrupt cancellation of climate research grants worth billions of dollars
told government lawyers they had to produce
“some kind of evidence” of wrongdoing to back up such drastic actions.

Climate United, which coordinates investment in clean energy projects,
sued to seek access to $7bn that was frozen before it was cancelled on Tuesday night by ,
the New York Republican congressman turned administrator of the Environmental Protection Agency.

In US district court in Washington on Wednesday, Judge asked lawyers for the EPA:
“Can you proffer any evidence that [the grant] was illegal,
or evidence of abuse or fraud or bribery
– that any of that was improperly or unlawfully done, other than the fact that Mr Zeldin doesn’t like it?”

, a government lawyer, said:
“The determination is based on the information contained in the termination letter.”
Chutkan said:
“That’s pretty circular,”
then asked if Climate United had violated federal regulations.

Sacks said:
“I think the agency cited both of those regulations within their termination letter.”
Chutkan said:
“I can cite cases all day long, but you have to have some kind of evidence or proffer to back it up.”
She also said:
“You can’t even tell me what the evidence of malfeasance is.”

There is plentiful evidence that Zeldin is implementing an assault on attempts to tackle the climate crisis.
The EPA issued a slew of rollbacks of rules to combat pollution on Wednesday.

Zeldin said he was “driving a dagger through the heart of climate-change religion and ushering in America’s Golden Age”.
Climate groups reacted with horror.
, legal director at the Center for Biological Diversity’s Climate Law Institute, told the Guardian:
“Come hell or high water, raging fires and deadly heatwaves, Trump and his cronies are bent on putting polluter profits ahead of people’s lives.
This move won’t stand up in court. We’re going to fight it every step of the way.”

Climate United is not the only group to have sued over access to grants.
In New York, the Coalition for Green Capital has sued over the cancellation of a $5bn grant,
an act it called “patently and plainly unlawful on its face”
and “arbitrary and pretextual”.
In Washington, lawyers for Climate United argued that the EPA had not followed the law,
meaning Chutkan could rule on the matter.
Lawyers for the government said it was a contract dispute, so she could not.
Chutkan said:
“The government didn’t decide who it wanted to contract with.
A new administration came in, didn’t like the contract any more.
That’s what new administrations do.
But there are procedures that have to be followed.
And it doesn’t appear, at least on the record before me, that those procedures have been followed.”

The hearing ended without Chutkan issuing a ruling or temporary restraining order,
but asking both sides to make
👉new filings by Monday evening:
Climate United to amend its lawsuit
and the government to provide information about alleged wrongdoing.
“I don’t have the credible evidence that’s required,” Chutkan said.
theguardian.com/us-news/2025/m

The Guardian · Judge demands ‘some kind of evidence’ from Trump’s EPA to halt climate grantsBy Martin Pengelly

Sen. Elizabeth Warren on Friday sent a letter to Donald Trump’s crypto and AI czar
raising concerns about potential conflicts of interest in his role
and asked him to make his financial disclosures with the government public,
days after Trump announced the creation of an American “crypto strategic reserve

In her letter, the senator asks Sacks how he has addressed his
“conflicts of interest”
and how he intends to prevent “the President and other private individuals from directly profiting off of the Trump Administration’s efforts to selectively pump the value of certain crypto assets.”

Warren’s letter raises alarm at several moves made by the Trump administration on crypto recently,
including the SEC’s assertion that meme coins are not securities,
the regulator dropping its case against Coinbase
and the pause in the case against crypto entrepreneur Justin Sun.

Warren, who is a ranking member on the Senate’s banking committee,
asks Sacks to reveal whether he has filed any financial disclosures with the Office of Government Ethics, if he has recused himself on any matter after accepting the role and how long he intends to serve as a “special government employee.”

Warren’s letter also seeks disclosure on the exact dates Sacks divested Bitcoin,
Ether, and Sol tokens from his portfolio
(as per his claims)
and the exact date his firm Craft Ventures divested from crypto asset manager Bitwise investments.

Warren also wants Sacks to make several other disclosures covering his potential advanced knowledge of Trump’s crypto reserve announcement and how the Trump administration picked the tokens to be included in the reserve, among other things.
forbes.com/sites/siladityaray/

Forbes · Sen. Elizabeth Warren Raises Conflict Of Interest Concerns In Letter To Trump’s ‘Crypto Czar,’ Seeks Financial DisclosuresBy Siladitya Ray

At 10:24am on Sunday morning in Washington, D.C., Donald Trump posted to Truth Social that the upcoming US Crypto Reserve would contain XRP, SOL, and ADA.

That Trump decided to bless three assets that the Securities and Exchange Commission (SEC) had previously designated as unregistered securities barely registered with post-Gary Gensler crypto investors.

Indeed, since Trump’s inauguration, lawsuits initiated by Gensler’s SEC against Uniswap, Coinbase, Robinhood, Gemini, Metamask, OpenSea, Justin Sun, and Richard Heart have been abruptly terminated.

Moreover, that Trump decided to first bless non-bitcoin assets after debuting his promise of a sovereign stockpile at a 2024 BTC maximalist conference was also unsurprising
after he and his wife decided to launch two meme coins on Solana during his Inauguration week.

Even less of a surprise is the financial conflict of interest that Trump’s appointed Crypto Czar has with XRP, SOL, and ADA.

For example, Sacks is one of the earliest investors in SOL via his limited partnership in Multicoin Capital and has publicly laughed about selling his early bags to latecomers.

Sacks is also a lead investor in Bitwise Asset Management, whose flagship BITW index fund is maximally allocated to all five of the crypto assets that Trump named.

Over 97% of BITW consists of XRP, SOL, ADA, BTC, and ETH holdings.

The potential conflicts of interest extend beyond David Sacks to Trump himself,
as recent financial disclosures reveal significant holdings in XRP, SOL, and ADA through various Trump entities like World Liberty Financial.

That presidential entity owns staked ETH and wrapped BTC — two assets that Trump endorsed yesterday.

protos.com/trumps-crypto-reser

Protos · Trump’s crypto reserve conveniently mirrors David Sacks-backed fundIt is difficult to count the number of conflicts of interest in Donald Trump’s endorsement of Ripple, Solana, and Cardano.

Man kann es nicht oft genug sagen, um den Hintergrund zu verstehen:

> Mr. #Musk is one of a number of #reactionary figures with roots in Southern Africa who found an unlikely home in Silicon Valley and now wield disproportionate influence in shaping American and global right-wing politics. These men, such as Peter #Thiel and David #Sacks, emerged from a historical tradition that revered hierarchy and sought to sustain racial and economic dominance..."

nytimes.com/2025/02/28/opinion

The New York Times · Opinion | Elon Musk Is South African. We Shouldn’t Forget It.By William Shoki
Rebecca Davis Investigates Trump’s South African Connections

Rebecca Davis, an award-winning journalist with #DailyMaverick, explores a striking pattern in Donald Trump’s inner circle—its strong South African ties. Despite never visiting the country as president, Trump has repeatedly targeted South Africa in his public statements. Davis uncovers how key figures like Elon #Musk, David #Sacks, Peter #Thiel, and Joel #Pollak—who share conservative, anti-“woke” views—may be shaping his stance. Their influence raises questions about the real motivations behind Trump’s foreign policy decisions.

Read more via Daily Maverick. #RebeccaDavis #Trump #SouthAfrica #ElonMusk #DavidSacks #PeterThiel #JoelPollak #Politics

"In 1995, a year after the ANC began attempt­ing that in South Africa, #Thiel & #Sacks, who met @ Stan­ford, pub­lished The Diversity Myth in the US. It’s a flu­ent defence of “west­ern civil­isa­tion” against “mul­ti­cul­tur­al­ism” (or what the right now calls “woke”), writ­ten by 2 white twentyso­methings who are sure that racism isn’t the prob­lem. Indeed, they explain: “There are almost no real racists . . . in Amer­ica’s younger gen­er­a­tion.”

ft.pressreader.com/article/282

#MAGA
#Apartheid

ft.pressreader.comFinancial TimesNews, analysis and comment from the Financial Times, the worldʼs leading global business publication

"In 1995, a year after the ANC began attempt­ing that in South Africa, #Thiel & #Sacks, who met @ Stan­ford, pub­lished The Diversity Myth in the US. It’s a flu­ent defence of “west­ern civil­isa­tion” against “mul­ti­cul­tur­al­ism” (or what the right now calls “woke”), writ­ten by 2 white twentyso­methings who are sure that racism isn’t the prob­lem. Indeed, they explain: “There are almost no real racists . . . in Amer­ica’s younger gen­er­a­tion.”

ft.pressreader.com/article/282

#MAGA
#Apartheid

ft.pressreader.comFinancial TimesNews, analysis and comment from the Financial Times, the worldʼs leading global business publication