DavidSacks sold $200 million Crypto Holdings before working at WH

According to a White House memo, Trump administration’s AI and Crypto Czar David Sacks sold over $200 million in digital asset-related investments personally and through his company, Craft Venture, before he began his job.

Of the assets sold, at least $85 million is said to be “directly attributable to the bag.” A note from White House lawyer David Warrington added that Kraft remains an investor in other funds with digital assets in its portfolio.

The March 5th disclosure is 11 pages long compared to the newly established two-page document by Robert F. Kennedy Jr., Secretary of Health and Human Services. The sale of Sack is in stark contrast to the actions of others in the administration, following the first Trump terminology in which conflicts of interest were routinely ignored during that time.

President Trump currently maintains a large shares in addition to his many real estate assets. Trump Media & Technology Groupa social society of publicly traded true parents, launched multiple crypto projects that could increase or decrease value based on various government policies. and Tesla Elon Musk, the CEO of social media company X and AI startup Xai, is one of the president’s top advisors, in a position to shape regulations in ways that could support his business.

Three days before his inauguration, President Trump launched $Trump, a meme called $Trump, called $Trump, through CIC Digital LLC, the company that owns 80% of the coin supply. The Trump family also receives 75% of revenue, called World Liberty Financial, from another Crypto Bank, which was launched last year.

Musk, meanwhile, leads the so-called government efficiency department, or Doge, relying on government contracts, particularly at SpaceX. For example, the company has a $1.8 billion contract with the National Reconnaissance Agency to build a network of spy satellites.

Beyond Trump and Musk, it shows that several cabinet members have invested heavily in a variety of cryptocurrencies. Commerce Secretary Howard Lutnick, who recently left his role in leading Canter Fitzgerald, reportedly won hundreds of millions of dollars from that bond.

Representatives from Musk, the White House and the Department of Commerce did not immediately respond to requests for comment.

Sachs, who has become a national figure known as one of the four hosts of the popular all-in-podcast, said in an episode of the show last week that he sold around $200 million on Crypto, “Because I didn’t even want to emerge a conflict.”

He was in response to criticism imposed by many civil servants, including Massachusetts Sen. Elizabeth Warren, a top Democrat on the Senate Banking Committee. Warren writes to the bag ahead of the first White House crypto summit last week, raising concerns of conflicts of interest and calling for a call to the bag to disclose its financial holdings Bitcoinether, solana, and other assets included in Trump’s initial proposals on strategic preparation.

When President Trump finally signed an executive order on the issue on March 6, he said the US was establishing a strategic Bitcoin reserve that does not include other digital currencies. Sacks said the preparations will only be funded through tokens seized in criminal and civil forfeiture cases and will not secure taxpayers’ burdens. The order also created a US digital asset stockpile managed by the Treasury to hold other forfeited cryptocurrencies.

According to Sacks’ ethics disclosures, he and his venture company sold everything, including all liquid cryptocurrency holdings. Bitcoin, etherand Solanaand his direct position in the Bitise 10 Crypto Index Fund and stocks. Coinbase and Robin Hood.

Sacks has also begun liquidating stocks in private digital asset companies, including his limited partner interest in crypto-centric investment funds such as Multicoin Capital and Blockchain Capital.

His portfolio still has some digital asset-related holdings. Collectively, these holdings are less than 0.1% of his total investment assets, and their sales are described as “certain and imminent.”