Trump’s Crypto Czar David Sacks Confirms Selling Entire Crypto Portfolio Before Taking Office

David Sacks, the recently appointed White House AI and Crypto Czar, publicly confirmed Sunday that he liquidated his entire cryptocurrency holdings prior to taking his position in the Trump administration, addressing potential conflict of interest concerns as he prepares to shape federal crypto policy.

“I sold all my cryptocurrency (including BTC, ETH, and SOL) prior to the start of the administration,” Sacks tweeted in response to a report from the Financial Times.

The financial newspaper had reported that Sacks was undergoing a government ethics review process, after which he would provide comprehensive details about his financial holdings. While Sacks has personally divested from direct cryptocurrency ownership, his venture capital operation Craft Ventures continues to maintain investments in several crypto-focused startups, according to the Financial Times report.

Sacks’ statement triggered questions from industry observers about the scope of his divestment. Adam Cochran, managing partner at Cinneamhain Ventures, questioned whether Sacks’ disclosure included his positions in crypto funds, angel investments in crypto-related equity, exposure to Bitwise, or exposure through carried interest in his previous firm.

Addressing specific allegations about indirect holdings, Sacks refuted a Community Note claiming he maintained “large indirect holdings” through Craft Ventures’ investments in crypto asset management firm Bitwise. “This community note is a lie. I had a $74k position in the Bitwise ETF which I sold on January 22. I do not have ‘large indirect holdings.’ I’ll provide an update at the end of the ethics process,” Sacks tweeted.

Reports indicate that Craft Ventures divested its direct cryptocurrency holdings shortly after Trump’s inauguration, though the firm continues to maintain investments in crypto-focused startups.

## The White House’s ‘Crypto Czar’

Appointed in December last year, Sacks chairs the President’s Digital Asset Working Group and has been tasked with establishing comprehensive regulatory frameworks for the cryptocurrency industry. His technological background and industry experience have generally been welcomed by crypto stakeholders who view his appointment as beneficial for developing informed regulations.

Sacks brings substantial industry credentials to his role. His venture capital firm, Craft Ventures, has invested in numerous blockchain and crypto-focused projects, and he reportedly has personal experience with cryptocurrency investments dating back to 2012.

The Trump administration has emphasized developing clear regulatory standards that encourage domestic innovation while providing appropriate oversight. Several initiatives have already been announced during Sacks’ first months of leadership, including potential stablecoin legislation and coordination between Senate and House committees to develop coherent crypto policy.

Sacks’ disclosure regarding his cryptocurrency holdings comes as he prepares to lead the inaugural White House Crypto Summit scheduled for March 7. President Trump is expected to deliver remarks to “prominent founders, CEOs, and investors from the crypto industry,” according to a separate tweet from Sacks’ White House-affiliated account.

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