The White House disclosed that David Sacks, Trump’s AI and crypto czar, and his venture firm Craft Ventures divested over $200 million in crypto assets
The White House has revealed that David Sacks, President Trump’s AI and crypto czar, and his venture firm Craft Ventures, sold over $200 million in crypto assets and related holdings ahead of his new role in the administration. At least 85% of the divested assets were personally attributed to Sacks, according to a memo from the administration.
The disclosure, which came in a memorandum dated March 5 granting Sacks a limited ethics waiver to participate in digital asset policy matters, also highlighted the significant scale of Sacks’s crypto investments.
“Altogether, you and Craft Ventures have divested over $200 million of positions related to the digital asset industry, of which at least $85 million is directly attributable to you,” the memo from the White House counsel’s office reads.
Sacks himself had mentioned the massive divestment during an appearance on The All-In Podcast last week, where he faced several claims that he was exploiting his position in the administration for personal gain in crypto.
“We cleared that before day one, paid taxes on it, and basically said there wouldn’t be a conflict,” said Sacks, dismissing allegations that he was using his government position to benefit personally from movements in the crypto market.
The divestments, which were completed ahead of the President’s second term commencing on January 20, 2025, included liquid crypto assets such as Bitcoin, Ethereum, and Solana, as well as positions in the Bitwise 10 Crypto Index Fund. Sacks also sold his directly held stock in public companies Coinbase and Robinhood, along with shares in private digital asset companies.
Furthermore, Sacks liquidated his limited partner interests in crypto-focused investment funds, including Multicoin Capital and Blockchain Capital. His firm, Craft Ventures, also sold its stakes in Multicoin Capital and Bitwise Asset Management.
Despite the extensive divestments, Sacks still retains some exposure to the digital asset industry through venture capital funds managed by Craft Ventures, where he serves as both a general and limited partner. These remaining holdings, which constitute less than 2.5% of his total investment assets, include small stakes in BitGo and Lightning Labs, both of which are companies operating in the Bitcoin ecosystem.
