Key Takeaways
- Complete Selloff: David Sacks who was recently appointed as the White House’s “Crypto Czar,” confirmed he sold his entire crypto portfolio worth $200 million before assuming office.
- Ethical Compliance: The liquidation aligns with federal ethics rules to prevent conflicts of interest in shaping U.S. cryptocurrency policies.
- Continued Industry Involvement: While Sacks no longer holds personal crypto, his firm, Craft Ventures remains actively invested in blockchain startups.
Washington, D.C. – David Sacks, a key pro-crypto figure and now the White House’s “Crypto Czar,” has confirmed he fully divested his personal cryptocurrency holdings worth $85 million before assuming office. His VC firm Craft ventures also sold approx $115 million worth of cryptocurrency.
Sacks, a vocal supporter of digital assets, revealed on X (formerly Twitter), “I sold all of my cryptocurrency (including BTC, ETH, and SOL) before the start of the administration.” His move comes amid heightened scrutiny over government officials’ financial ties to industries they regulate.
Despite no longer holding personal crypto, Sacks’ firm, Craft Ventures, remains deeply invested in blockchain projects. Craft has backed Bitwise Asset Management, BitGo, and Multicoin Capital.
