David Sacks Dumps Crypto Holdings Before Taking White House Role

David Sacks, the White House’s AI and Crypto Czar, has confirmed that he sold off his entire crypto portfolio before entering the Trump administration. In a recent X post, Sacks confirmed that he no longer holds Bitcoin (BTC), Ethereum (ETH), or Solana (SOL).

His statement directly responded to a recent report claiming he was still undergoing a government ethics review. Sacks assured the public that he would provide a full update on his holdings once the review was complete.

Crypto Czar Still Has Crypto Ties

While Sacks may no longer personally own crypto, his venture capital firm, Craft Ventures, still has stakes in the industry. The firm sold its crypto holdings soon after President Trump took office but is still investing in crypto startups. 

Some people believe David Sacks is still involved in crypto through investment funds, shares in blockchain companies, or other financial ties. There were also claims that Sacks had indirect crypto holdings due to Craft Ventures’ investment in Bitwise, a crypto asset management firm. 

Sacks called these claims a lie. He stated he had a $74,000 position in a Bitwise ETF, which he sold on January 22. Nevertheless, he promised further transparency once the ethics review is complete.

David Sacks: A Key Player in Crypto Regulation

Despite the questions surrounding his investments, many in the crypto space see Sacks’ appointment as a win. He has years of experience in venture capital and early investments in blockchain startups.

His deep experience in the industry makes him an important voice in setting crypto rules. As the leader of the President’s Digital Asset Working Group, he is expected to help shape the future of U.S. crypto regulations.

Since taking office, Sacks has focused on creating transparent and fair rules for the crypto industry since he resumed office. He is working on stablecoin rules and helping Senate and House committees create a clear crypto policy.

In a recent interview, he said NFTs and memecoins are “collectibles” instead of risky investments This perspective focuses less on their cultural value over price volatility.

All Eyes on the White House Crypto Summit

Sacks’ disclosure comes just days before the first-ever White House Crypto Summit, scheduled for March 7. The event will bring together top crypto leaders, including founders, CEOs, and investors. President Trump is also expected to attend, showing the government’s growing interest in digital assets. 

Since Sacks no longer owns crypto, he can now focus on leading the government’s crypto policies without conflict of interest. The industry will be watching to see how his leadership shapes the future of U.S. crypto regulations.