White House-appointed 'Crypto Czar' David Sacks Confirms He Liquidated All His Cryptocurrency Holdings

David Sacks, the Trump administration's 'Crypto Czar,' confirmed that he liquidated all his cryptocurrency holdings—including Bitcoin BTC/USD, Ethereum ETH/USD, and Solana SOL/USD—before joining the administration.

White House-appointed ‘Crypto Czar’ David Sacks has confirmed that he liquidated all of his cryptocurrency holdings—including Bitcoin BTC/USD, Ethereum ETH/USD, and Solana SOL/USD—before joining the administration, as reported by the Financial Times.

The article, which appeared in Monday's edition of the Financial Times, also noted that while Sacks’ investment firm, Crypto Ventures, still retains stakes in a few crypto startups, he no longer has any direct exposure to digital assets.

This follows speculation from a community note on X (formerly Twitter) post by Sacks, which suggested that he still had a significant indirect position in crypto through Bitwise Asset Management.

However, Sacks replied that he had fully exited his $74,000 position in the Bitwise ETF on January 22.

"I sold all of my crypto in early 2024 and closed out my Bitwise position on 1/22," he stated.

Peter Schiff further argued that Sacks could have profited significantly from the Trump-induced crypto rally.

"Часть его нераскрытого дохода в размере 2023 млн. долларов США могла быть связана с прибылью, полученной им в 2023 году от инвестиций в биткойн и эфир, которые, по его словам, были ликвидированы перед тем, как он в начале 2024 года вступил в пост в администрации Байдена. Но не станет ли он занимать позиции 'продай высоко, купи низко' в своих вложениях в биткойн и эфир?" - сказал Шифф.

"Интересно, что в начале 2024 года, когда он продал свои акции, цена биткойна составляла около 50 000 долларов, а эфира - около 1 500 долларов. Затем, в марте 2024 года, по мере того как биткойн торгуется выше 70 000 долларов, а эфир - выше 2 000 долларов, он поспешил вступить в пост в администрации Байдена."

Schiff also questioned whether any of Sacks's associates—including family, friends, and former colleagues—may have held positions and sold into the recent price surge.

On Trump's crypto strategic reserve announcement, Sacks highlighted that the move aligns with Executive Order 14178, reinforcing the administration's commitment to making the U.S. the "Crypto Capital of the World."

"This is part of a broader effort by the administration to strengthen the U.S. economy and maintain America's global leadership in the 21st century."

He added that the initiative could factor into the upcoming Crypto Summit on March 7.

"We will have more to say about this at the inaugural American Crypto Summit, which will be held on March 7."

Earlier, Sacks, a prolific crypto investor with over 100 investments and no interest in Cardano as he had never received a pitch from a company looking to build on the platform, disclosed his crypto holdings in a recent interview with the Financial Times.

The investor, who had previously invested in crypto ventures such as Aave, Bacterio and Bitcoin Suisse, stated that he had liquidated all of his crypto assets ahead of joining the administration.

However, his investment firm, Crypto Ventures, still retains stakes in a few crypto startups.

"I had a small position in the Bitwise Bitcoin and Ethereum ETF, which I sold early this year. I also had some Solana and other altcoins, but I sold them all before joining the administration," said Sacks.

He added that he had no plans to invest in crypto again in the future.

"I am focused on my role in the administration and helping to create a favorable regulatory environment for the crypto industry in the U.S.," he said.

Sacks's comments come as the crypto industry is facing increasing scrutiny from regulators around the world.

The U.S. Securities and Exchange Commission (SEC) has already filed several lawsuits against crypto exchanges and executives, and more legal action is expected in the coming months.

In July, Sacks threw his support behind Trump, arguing that the industry needs regulatory clarity more than anything else.

According to Sacks, a Trump administration would bring clear and favorable regulations, in contrast to a Harris administration, which would likely extend the SEC's crackdowns under Gary Gensler and continue anti-crypto rhetoric from Senator Elizabeth Warren (D-Mass.).

"A President Trump would quickly bring clarity and certainty to crypto policy, which is the industry's greatest need. A President Harris would extend the SEC's anti-crypto litigation and bring forth more anti-crypto rhetoric from Senator Warren," stated Sacks.

His comments followed an announcement by Trump, where he revealed plans to create a crypto strategic reserve and introduce a new,