David Sacks Sold Over $200 Million in Crypto Assets Before Taking Office

BlockBeats News, March 15th, According to a memo released by the White House, David Sacks, the AI and cryptocurrency affairs chief, sold over $200 million in digital asset-related investments through personal and his company, Craft Ventures, before taking office. Of this, at least $85 million directly belonged to Sacks, but Craft Ventures still holds some fund investments related to crypto assets. Sacks emphasized that the asset sales were to "avoid any suspicion of conflict of interest."

Sacks sold all of his held Bitcoin, Ethereum, and Solana, and liquidated his holdings in the Bitwise 10 Crypto Index Fund, Coinbase, and Robinhood. Additionally, he has begun to exit his limited partnership stakes in crypto investment funds such as Multicoin Capital and Blockchain Capital.