On December 6th, Cointelegraph reported that David Sacks, the newly appointed head of crypto in the Trump administration, is a strong supporter of Solana and an investor in crypto investment firm Multicoin Capital. In October 2021, David Sacks publicly disclosed in episode 50 of the All-In podcast that he had bought a large amount of Solana (SOL) at a discounted price. He also stated that he did not sell SOL after the FTX crash. And mentioned that Solana has the potential to replace Ethereum as the preferred blockchain platform. Previously, it was reported that Trump appointed David Sacks as the head of the crypto field. The VC founded by David Sacks has invested in crypto projects such as dYdX and Lightning Labs.