U.S. Crypto Czar Sold Bitcoin, Ethereum Stash
White House AI and Crypto Czar David Sacks and his firm Craft Ventures sold their direct cryptocurrency holdings
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White House AI and Crypto Czar David Sacks and his firm Craft Ventures sold their direct cryptocurrency holdings before Donald Trump’s inauguration on January 20. The source claims that Sacks and his company liquidated their direct cryptocurrency holdings, which included Bitcoin, Ethereum, and Solana.
Sacks and his company continued to invest in other cryptocurrency-related startups even after selling his direct cryptocurrency holdings.
The first-ever Crypto Czar is preparing for an ethics review that could decide whether his appointment under the Trump administration and his cryptocurrency holdings create a conflict of interest. The source expects Sacks to disclose his cryptocurrency holdings and stakes after the review for transparency.
Sacks, interestingly, acknowledged the report, stating that he had sold all of his direct cryptocurrency holdings, including Ethereum, Bitcoin, and Solana, before the start of Trump’s administration.
Sacks used Craft Ventures to invest in Bitcoin, including Solana. X’s Community Notes implied that he possesses substantial indirect cryptocurrency holdings in Bitwise Asset Management.
Bitwise offers exchange-traded funds (ETFs) connected to Bitcoin and Ethereum to provide context. The business also plans to launch spot ETFs that are linked to XRP. Sacks refuted the Community Note’s claim on X post, revealing that he sold off his $74,000 investment in Bitwise ETF on January 22. He insisted that his cryptocurrency holdings follow the ethics review.
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