David Sacks, the AI and crypto czar for Donald Trump's administration, sold over $200 million in crypto assets before his new role, aiming to eliminate conflicts of interest.
Major Crypto Asset Sales
Sacks and his firm, Craft Ventures, divested over $200 million in cryptocurrency holdings including Bitcoin, Ethereum, and Solana, as well as interests in the Bitwise 10 Crypto Index Fund. Notably, 85% of this amount is attributed directly to Sacks.
Context and Implications
Despite accusations of using his position for personal gain, Sacks explained he had settled all tax matters in advance to prevent conflicts of interest. The divestments occurred before President Biden’s new term began on January 20, 2025. He also liquidated holdings in companies like Coinbase and Robinhood and sold stakes in private digital asset firms.
Next Steps and Digital Asset Policy
Despite these sales, Sacks retains minor exposure through Craft Ventures in companies such as BitGo and Lightning Labs. He agreed not to purchase new digital assets during his limited tenure. The White House allowed him to participate in digital asset policy discussions as he continues divesting venture capital fund interests, including Sequoia.
David Sacks’ divestment of crypto assets underscores his commitment to resolving conflicts of interest in his new position. He remains involved in digital asset policy, without acquiring new assets.
