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2021-06-09

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A top antitrust advisor at the White House is reportedly a bitcoin millionaire

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He also owns between $100,001 and $250,000 of filecoin, the native cryptocurrency for a decentralized storage platform. Wu's total net worth is between $4 million and $11.5 million, Politico reported.Wu did not immediately respond to CNBC Make It's request for comment.In March, Wu joined the Biden administration as an antitrust expert at the National Economic Council, and because of his investment, isrecusedfrom involvement in policy surrounding cryptocurrency.Known as abig tech critic, Wu is an advocate for a\"free and open internet.\"In 2002, he notablycoined the term \"net neutrality.\"He worked on competition policy for the Obama administration and also worked on antitrust enforcement at the Federal Trade Commission.Though his investment was recently disclosed, Wu has publicly shared his thoughts on bitcoin before. In 2017, hewrote an op-edfor The New York Times about his thoughts and outlook on bitcoin.\"Bitcoin may be in a bubble,\" he wrote, \"but it is part of a much bigger trend that is here to stay: a shift in trust from government to technology.\"Though bitcoin isn't backed by any government or reserve asset, it \"might work fine as a store of value that you can sell,\" Wu also wrote.Recently, top U.S. government officials and central bankers seem to bevery waryof bitcoin and cryptocurrency as a whole, calling forstronger regulations. Treasury Secretary Janet Yellen haspreviously calledbitcoin \"highly speculative\" and an \"extremely inefficientway of conducting transactions.\"Though the potential for a central bank digital currency has been mentioned, and the Federal Reserve hasnoted its researchon the development of one, chairman Jerome Powell says the central bank is inno rush.","news_type":1},"isVote":1,"tweetType":1,"viewCount":76,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/180830232"}