David Sacks and Craft Ventures Sell $200,000,000 Worth of Crypto-Related Investments: White House

David Sacks Liquidates Digital Asset Investments Before Joining Trump Administration

David Sacks made headlines recently as he unloaded hundreds of millions of dollars worth of digital asset-related investments prior to taking on his new role as the Trump administration’s artificial intelligence (AI) and crypto czar.

A White House memo revealed that Sacks and his investment firm Craft Ventures liquidated their crypto holdings, including major assets like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), before Trump’s second term began on January 20th.

In addition to selling off his personal holdings in digital assets, Sacks also divested from the Bitwise 10 Crypto Index Fund (BITW) and relinquished his shares in popular platforms like Coinbase (COIN) and Robinhood (HOOD). He also cut ties with private digital asset companies and withdrew his investments in crypto-focused funds like Multicoin Capital and Blockchain Capital.

The White House emphasized that Sacks took proactive measures to avoid any conflicts of interest by also selling his limited partner interests in approximately 90 venture capital funds that could potentially invest in the digital asset industry.

According to Presidential Counsel David A. Warrington, Sacks and Craft Ventures offloaded over $200 million worth of digital asset investments, with Sacks personally divesting at least $85 million. These actions were taken to ensure the integrity of Sacks’ position as a special advisor for crypto.

“Crucially, you have already taken significant steps to minimize potential conflicts of interest due to digital asset holdings – divesting from hundreds of millions of dollars in digital assets or digital asset-related industry entities.”

While Sacks has liquidated or is in the process of divesting his remaining exposure to the digital asset industry, the memo mentions that Craft Ventures still maintains interests in several crypto-related firms, including BitGo, Chia Network, and Dapper Labs.

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