Amid ongoing allegations related to investments in the crypto market, White House AI and crypto czar David Sacks has confirmed that he sold all his crypto holdings before joining President Donald Trump’s administration.
David Sacks : Sold All My Crypto Holdings
In response to an X (formerly Twitter) post that claimed David Sacks had sold several of his crypto holdings, Sacks replied, “Correct. I sold all my cryptocurrency (including BTC, ETH, and SOL) prior to the start of the administration.”
Following President Donald Trump’s announcement of plans to form a crypto reserve, which includes Bitcoin, Ethereum, Solana, and Cardano, several Republican lawmakers have expressed opposition. They argue that a crypto reserve could jeopardize taxpayers’ funds and raise concerns about potential conflicts of interest.
Among the Trump administration advisers reportedly linked to the crypto market, one of the first names to surface was David Sacks. Reports suggest that Sacks’ investment firm, Craft Ventures, holds stakes in some crypto start-ups. However, both he and the firm reportedly sold their direct cryptocurrency holdings shortly after Trump’s inauguration. Sources indicate that Sacks is currently undergoing a government ethics review and plans to provide a full update on his holdings once the review is complete.
In a recent post on the social media platform Truth Social, President Trump declared that the U.S. would become the “crypto capital of the world.” He also revealed that his “Executive Order on Digital Assets” directed the Presidential Working Group to move forward with a Crypto Strategic Reserve, which will include SOL and ADA.
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