One of the first fault lines is emerging among Trump's biggest Silicon Valley backers over the announcement of that strategic crypto reserve.

Dear DeBosa has some details in today's tech check. Morning, Dee.

Hey, good morning, Carl. So divisions within Silicon Valley over this reserve, that could represent a major test of President Trump's newfound tech support.

Of course, forged during the 2024 campaign.

It highlights the different factions within this very nuanced group, and it was certainly on public display over the weekend.

One of the most maybe surprising faceoffs that broke out between the administration's

crypto czar, David Sachs, and Joe Lonsdale, an influential alley.

Now, after the announcement, Lonsdale critiqued the use of taxpayer money for a U.S.

crypto reserve.

He wrote that pushing for more efficient defense, courts and prisons, that's a noble task.

But a crypto scheme, as he called it, was overreach.

And that put Sacks on the defense, telling Lonsdale to wait to find out what's actually being proposed and announcing that he sold all of his cryptocurrency prior to the start of the new administration.

Then there was Brian Armstrong, CEO of Coinbase.

He indirectly questioned the rationale behind diversifying the reserve, adding more coins, suggesting that a Bitcoin-only option would be the best option.

Now, these emerging rifts, they underscore deeper ideological battle within Silicon Valley's

pro-Trump faction.

If it was largely united over Doge, the mission to streamline operations and reduce waste.

But the idea of a federally backed crypto reserve, that may feel like a distortion of free markets to some of them,

especially the Libertarian faction.

It could also disproportionately benefit some VC firms over others.

David Sachs, venture firm, Kraft still holds investments in crypto startups like Bitwise.

And then there's Andreessen Horowitz with investments in Cardano and Salana included in

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