White House Crypto Tsar David Sacks confirms that he has sold digital assets before he plays a role

The AI ​​and Crypto Tsar David Sacks from the White House confirmed on Sunday evening that he sold his entire crypto portfolio just before he came to the Trump administration.

“I have sold all my cryptocurrency (including BTC, ETH and SOL) prior to the start of the administration,” Sacks tweeted.

Sacks’ statement was a response to a report from the Financial times With reference to him as “in the process” of a government -ethical assessment, after which he is planned to offer an “full update about his interests”.

Although Sacks personally immediately seems to have left crypto property, his risk capital company Craft Ventures still maintains investments in various crypto-oriented startups, according to the report that is shared in the thread of Sacks. According to the Ftthe company has divested its direct cryptocurrency companies shortly after Trump’s inauguration.

But some, such as Adam Cochran, managing partner at Cinneamhain Ventures, undercommon If the statement of Sacks contains its LP (liquidity pool) position under “crypto funds, angel investments in crypto -related equity, exposure to bitwise or exposure to crypto via Carry” in his previous company.

The confirmation apparently answers questions about possible conflicts between the personal investments of Sacks and its new role in shaping the federal crypto policy.

Sacks also refuted claims in a community commercial that he had “big indirect companies” because of the investments of Craft Ventures in Crypto Asset Management Firm Bitwise, tweet that it was ‘a lie’.

“I had a position of $ 74k in the Bitwise ETF that I sold on January 22,” he said, adding that he would “offer an update at the end of the ethical process.”

Decrypt has contacted Sacks and Craft Ventures and will update this article if they respond.

‘Crypto Czar’ from the White House

Sacks appointed in December last year chair The digital assets working group of the president and has worked on setting up regulatory frameworks for the crypto industry. Industry interested people have generally welcomed Sacks’ agreement and considered his technological background as valuable for the development of informed regulations.

Sacks brings considerable industrial experience into its role. His venture company, Craft Ventures, invested in numerous blockchain and crypto-oriented projects, while he also has personal experience with crypto investments that extend until 2012.

The administration has emphasized the creation of clear regulatory standards that encourage domestic innovation and at the same time offer appropriate supervision, with some proponents Suggest new rules To cover broader developments in the sector.

The White House has announced various initiatives under the first few months of leadership of Sacks, including potential Stabilecoin legislation and the formation of a coordinated effort between senate and house committees Develop Coherent Crypto policy.

The disclosure of the former venture capitalist with regard to his crypto interests comes when he prepares to lead the inaugural crypto -top of the White House on 7 March, where President Trump is ready to comment on “prominent founders, CEOs and investors of the crypto industry” Farewell tweet From the Wittehuis of the Sacks affiliated account.