David Sacks, the Trump administration’s AI and crypto czar, sold over $200 million worth of digital asset investments before stepping into his new role. According to a White House memo, at least $85 million came directly from Sacks’ holdings, while his firm, Craft Ventures, offloaded the rest.
Despite the sell-off, Craft Ventures still holds stakes in funds with digital assets. Sacks said he made the decision to “avoid even the appearance of a conflict.” His move stands in contrast to others in the administration, many of whom still have deep crypto ties.
President Trump himself remains heavily invested in crypto. His company, CIC Digital LLC, controls 80% of the $TRUMP memetoken, and his family receives 75% of proceeds from the crypto bank World Liberty Financial.
Meanwhile, Commerce Secretary Howard Lutnick has reportedly made millions from Tether-linked investments.
As Department of Government Efficiency (DOGE) leader Elon Musk maintains control over crypto policy decisions. SpaceX and xAI together with his other companies depend on government contracts which creates additional ethical issues.
The divestments made by Sacks faced questions from Senator Elizabeth Warren during her appearance at the first White House Crypto Summit. Trump followed his executive order by creating a U.S. Strategic Bitcoin Reserve using assets obtained from seizures.
While Sacks liquidated major holdings, he still has a few digital asset-related investments. The White House memo says these account for less than 0.1% of his portfolio and will be sold soon.
Sacks demonstrates his commitment to avoiding conflicts of interest through his ethics disclosure and his planned divestment of investments before starting his new position.
Also Read: David Sacks Rejects Claims of Crypto Holdings in Bitwise ETF
