Controversy has trailed the announcement of a Crypto Strategic Reserve with critics taking swipes at crypto czar David Sacks over allegations of unjust enrichment. Gemini cofounder Cameron Winklevoss has waded in to defend Sacks, noting that the crypto czar is losing a fortune in gains by preventing a conflict of interest.
Gemini Founder Says Sacks Could Lose Up To $1 Billion In Crypto Gains
Amid swirling speculations of unjust enrichment, Sacks confirmed the sale of all his cryptocurrency holdings to avoid a conflict of interest. Gemini Founder Cameron Winklevoss remarked that Sacks’ decision to sell off all cryptocurrencies would cost him gains running into a billion dollars.
“David Sacks is going to easily lose out on $1 billion in crypto gains over the next 4 years,” said Winklevoss. “He sold all of his crypto holdings (including $85 million of his personal holdings) prior to becoming AI and crypto czar.”
Sacks has previously confirmed the sale of his digital asset holdings while denying Multicoin exposure after divesting his stake. According to Sacks, he cumulatively sold $200 million worth of cryptocurrencies while disposing of $85 million worth of personal assets. He confirmed that he liquidated his holdings in crypto funds, including Bitwise and Blockchain Capital, before assuming office.
Cameron says Sacks is at the helm of a policy shift for cryptocurrencies in the US but will not reap any benefits from the windfall of changes.
“He is doing tremendous work and will not be sharing in any of the economic upsides to avoid even the slightest appearance of a conflict,” said the Gemini cofounder.
Sacks Leads The Charge For New Crypto Policy Without Pecuniary Benefits
David Sacks has hit the ground running since his appointment as crypto and AI czar, playing a key role in setting up the White House Crypto Summit. His efforts led to the establishment of a Strategic Bitcoin Reserve and the US Digital Asset Stockpile.
Sacks disclosed that the US has lost over $17 billion from the previous sale of confiscated Bitcoins. The concerted efforts of Sacks are expected to trigger new institutional interest in the ecosystem, sending prices to new all-time highs by the end of Trump’s first tenure.
Traditional airdrop campaigns have often led to short-term speculation rather than sustainable engagement. Many investors claim tokens only to sell immediately, preventing long-term community growth. In response, DeFi projects are now shifting toward structured airdrop systems, linking token distributions to staking, governance participation, and curated rewards programs.
Skyren DAO has adopted this approach through its Token Surge Event, offering 500 free SKYRN tokens to Solaxy and Remittix presale participants. This system ensures that recipients are not only rewarded but also integrated into Skyren DAO’s governance and incentive-driven airdrop ecosystem.
Solaxy and Remittix: Enhancing Blockchain Utility
Skyren DAO selected Solaxy and Remittix due to their high-value contributions to the blockchain ecosystem. Both projects focus on scalability, real-world payments, and financial accessibility.
Solaxy is a Layer-2 scaling solution for Solana, designed to reduce congestion and lower transaction fees. By processing transactions off-chain before settling them on Solana’s mainnet, Solaxy enhances scalability while maintaining Solana’s security model. The project has raised $23 million up to date, demonstrating strong market demand.
Remittix is a blockchain-powered remittance platform that enables fast, low-cost cross-border transactions. Unlike traditional payment providers that charge high fees and require long processing times, Remittix facilitates crypto-to-fiat transfers with minimal costs and near-instant settlement. The project has already raised $12.5 million in its presale, solidifying its place in the global remittance market.
Skyren DAO’s airdrop brings Solaxy and Remittix investors into its governance-driven DeFi model, where token holders benefit from staking rewards and curated airdrop distributions.
How Solaxy and Remittix Investors Can Claim Their SKYRN Tokens
Skyren DAO has streamlined the airdrop process for eligible participants:
Go to the Skyren Website – Navigate toskyren.io/token-surge/ and access the airdrop claim page.
Submit Transaction Data – Provide proof of participation in Solaxy or Remittix presales.
Enter an EVM-Compatible Wallet – Use a valid address for the airdrop distribution.
Receive 500 SKYRN Tokens – Tokens will be airdropped to verified participants after launch.
Once claimed, SKYRN tokens can be used for staking, governance participation, and airdrop rewards.
Maximizing SKYRN Utility: Governance, Staking, and Rewards
The SKYRN token is built to serve as a DeFi rewards asset, allowing holders to participate in governance and receive curated token distributions.
Stake SKYRN for Passive Income
Holders can stake SKYRN tokens and earn continuous rewards, getting a stable income stream while securing network liquidity. Pre-staking options allow early adopters to lock in higher APY rates, maximizing their earnings before SKYRN is publicly traded.
Participate in DAO Governance
Skyren operates as a decentralized autonomous organization (DAO), where SKYRN holders vote on major governance proposals, such as staking structures, platform upgrades, and airdrop distributions.
Exclusive Access to High-Value Airdrops
Instead of random airdrop distributions, Skyren provides curated token rewards, ensuring that every SKYRN holder benefits from vetted blockchain projects.
These incentives turn SKYRN into a long-term rewards asset, ensuring that holders engage with the platform beyond the initial claim. Skyren DAO’s governance model and staking system have been analyzed by Crypto Volt, highlighting the benefits of structured airdrop incentives.
Spin The Wheel: A Reward System for Active SKYRN Holders
Skyren DAO’s Spin The Wheel feature increases engagement by rewarding token buyers with additional incentives.
How It Works
Purchase SKYRN tokens – Every transaction earns spin tickets.
Spin for bonus rewards – Additional SKYRN tokens or staking multipliers.
Higher purchase amounts increase the number of spins.
Instant SKYRN bonuses are credited to winners.
This feature provides continuous engagement, keeping the Skyren community active and invested.
Claim Your 500 SKYRN Before the Airdrop Window Closes
Solaxy and Remittix presale participants have limited time to claim their 500 free SKYRN tokens, gaining access to governance, staking rewards, and curated airdrop programs. This marks a shift toward long-term DeFi incentives, ensuring that investors actively participate in structured airdrop rewards.
Complete the verification process today to secure SKYRN tokens before the claim period ends.
Get updates on DeFi rewards and governance: X (Twitter)
Join discussions with the Skyren DAO community: Telegram
The post Solaxy and Remittix Backers First to Access Skyren DAO’s Generous Token Surge appeared first on Coinpedia Fintech News
Traditional airdrop campaigns have often led to short-term speculation rather than sustainable engagement. Many investors claim tokens only to sell immediately, preventing long-term community growth. In response, DeFi projects are now shifting toward structured airdrop systems, linking token distributions to staking, governance participation, and curated rewards programs. Skyren DAO has adopted this approach through its …
If you lost crypto due to the Terra collapse, there’s still time to act. Terraform Labs has extended the deadline for victims to file their claims for crypto losses through its official portal. With the new deadline set for May 16, 2025, thousands of affected users now have extra time to gather documents and submit proof to claim their losses.
Here’s everything you need to know.
Portal Open Until May 16, 2025
Terraform Labs, the company behind the fallen Terra USD token and Luna coin, is currently winding down operations after filing for bankruptcy. As part of this process, it has launched an online Crypto Loss Claims Portal to let affected users file claims for their crypto losses.
Earlier, the deadline to submit claims was set for April 30. However, the company has now extended the deadline to May 16, 2025, at 11:59 p.m. ET, giving creditors more time to file their claims and upload the required documents.
Meanwhile, the fastest and most trusted way to verify your holdings is through Preferred Evidence, such as read-only API keys from major exchanges or wallet verifications.
Submitting Manual Evidence, like screenshots or transaction logs is allowed, but this method could result in delays or even disqualification if Preferred Evidence is available and not used.
Who’s Eligible?
To be eligible, claimants must have suffered losses from cryptocurrencies listed under “Eligible Loss Cryptocurrencies.” These include tokens that were part of the Terra ecosystem but exclude some holdings like Luna 2.0 on Terra 2.0 or coins with very low on-chain liquidity (below $100).
Users can visit claims.terra.money to submit their claims. It’s important to complete and submit the Crypto Loss Claim Form along with all necessary documentation before the final deadline of May 16, 2025, at 11:59 p.m. ET. Any claims submitted after this time will not be accepted.
What If You Miss The Deadline?
If you’re a victim of the Terra collapse, this may be your best shot at recovering losses. However, failing to file a claim before May 16 means you’ll likely lose your chance to recover any losses.
Be sure to visit the portal, read the claim procedures carefully, and submit your evidence as soon as possible.
The post Terraform Labs Gives Creditors One Last Chance—Claim Your Crypto Losses by May 16! appeared first on Coinpedia Fintech News
If you lost crypto due to the Terra collapse, there’s still time to act. Terraform Labs has extended the deadline for victims to file their claims for crypto losses through its official portal. With the new deadline set for May 16, 2025, thousands of affected users now have extra time to gather documents and submit …
The U.S. Securities and Exchange Commission (SEC) has formally acknowledged the filing for Fidelity’s spot Solana (SOL) Exchange-Traded Fund (ETF).
This marks a key development in the financial industry, as Fidelity seeks to list its Solana ETF on the Cboe BZX Exchange. The acknowledgment comes after Fidelity submitted a proposed rule change, paving the way for the potential approval of the product.
Fidelity’s Spot Solana ETF Proposal
The SEC’s acknowledgment follows Fidelity’s filing to list and trade shares of the Fidelity Solana Fund under the Cboe BZX Exchange. The proposed rule change, initially submitted on March 25, was later amended on April 1, 2025, to clarify certain points and add additional details.
The amended proposal aims to list the Solana ETF under BZX Rule, which pertains to commodity-based trust shares. According to the Cboe BZX Exchange, Fidelity plans to register the shares with the SEC through a registration statement on Form S-1.
Fidelity’s experience with crypto ETFs, having launched the Fidelity Wise Origin Bitcoin Fund (FBTC) and the Fidelity Ethereum Fund (FETH), has prepared it for this new initiative. FBTC has drawn substantial interest, accumulating nearly $17 billion in assets, while FETH currently manages around $975 million.
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