David Sacks and his venture capital firm sold over $200 million in crypto and crypto-related stocks before assuming the role of White House AI and crypto czar on January 20. A White House memorandum confirmed that Sacks and Craft Ventures took significant steps to avoid conflicts of interest by divesting $200 million in digital assets, including $85 million attributed directly to Sacks. The liquidation included all liquid cryptocurrencies in Sacks' portfolio and holdings in Bitcoin, Ether, and Solana, as well as shares in companies like Coinbase and Robinhood. Additionally, he divested from Multichain Capital and Blockchain Capital. After the sales, Senator Elizabeth Warren requested verification of Sacks' claims regarding divestment from digital assets, expressing concerns about whether he or his associates held positions during a recent price surge. Since starting his role, Sacks has advocated for various issues within the crypto industry, emphasizing the need for a strategic approach to Bitcoin and cautioned against over-taxing the sector.

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