Crypto Czar Sacks Sold Assets Pre-Role

David Sacks Sells Crypto Holdings Before Joining Trump Administration

• David Sacks confirmed selling his entire cryptocurrency portfolio, including BTC, ETH, and SOL, before joining the Trump administration.
• Sacks is undergoing a government ethics review and will provide a full update on his holdings afterward.
• Craft Ventures, Sacks’ venture capital firm, maintains investments in crypto startups but divested direct cryptocurrency holdings post-inauguration.
• Sacks refuted claims of having large indirect holdings through Craft Ventures’ investment in Bitwise, stating he sold a $74k position in the Bitwise ETF on January 22.
• Sacks chairs the President’s Digital Asset Working Group and is tasked with establishing regulatory frameworks for the crypto industry.

David Sacks confirmed selling his cryptocurrency portfolio before joining the Trump administration to address potential conflicts of interest. He clarified that he sold a $74k position in Bitwise ETF on January 22 amidst an ongoing ethics review.