David Sacks, the White House’s AI and Crypto Czar, confirmed that he sold his entire crypto portfolio prior to taking office in the Trump administration.
Sacks Sells Crypto Portfolio
David Sacks confirmed in a post on X that he sold all his cryptocurrency assets, including BTC, ETH, and SOL, before joining the administration. This statement followed a report from the Financial Times indicating he is undergoing a government ethics review.
Speculation on Sacks' Crypto Involvement
XRP lawyer John Deaton commented on the news, emphasizing Sacks’s transparency. Sacks' firm, Craft Ventures, still has ties to the industry through investments in crypto startups. Responding to speculation, Sacks denies having indirect holdings through Craft Ventures.
Future Plans and Initiatives
In November, Craft Ventures closed a $712 million fund, investing in major crypto players. Sacks's announcement comes as the administration prepares for the first White House Crypto Summit, aiming to discuss regulations and a potential U.S. crypto reserve.
Sacks sets an example of transparency while maintaining industry connections through investments.
