David Sacks Sold $ 200 Million in Crypto-Related Holdings Before Taking White House Job, Ethics Memo Says

David Sacks, The Trump Administration’s Ai and Crypto Czar, Sold Over $ 200 Million Worth of Digital Asset-Related Investments Personally and through his Firm, Through his Firm, Craft Ventures, Craft Venting the Job, CRFORENT to a memo From the white house.

Of the Assets Sold, The Documents said that at Least $ 85 Million “is directly attributable to Sacks.” The memo, from white house counsel david warrington, added that craft remain an investment in some other funds that have digital assets in their portfolios.

The disclosure, dated March 5, is 11 pages long, compared to the two-page document from robert f. Kennedy Jr, the newly installed secretery of health and human services. SACKS ‘DIVESTments Mark a Stark Contrast to the Behavior of Others in the Administration, and Follow the first trump term, DURING WHICH CONFLICTS OF Interest Were routinely disregarded,

President Trump, in addition to his many real estate assets, currently maintains a major stake in Trump Media & Technology GroupThe publicly tradeed parent of truth social, and has launched Multiple Crypto Projects That can Rise or Fall in Value Based on Various Government Policies. And Tesla Ceo Elon muskWho also controls spacex, social media company x and ai startup xai, is in position, as one of the president’s top advisers, to shape regulations in a way that potentially favorite holdseses.

Three Days Before His Inauration, President Trump Launched a Memetocen Dubbed $ Trump through his company, cic digital llc, which Owns 80% of the Coin’s SupplyThe Trump Family also Receives 75% of Proceeds From a separete crypto bank launched last year called World Liberty Financial.

Musk, meaning, who is heading up the so-called department of government efficiency, or dog, counts on government contracts, particularly at spacex. The company, for example, has a $ 1.8 Billion Contract With the National Reconnaissance Office to Build a Network of Spy Satellites.

Beyond Trump and Musk, Reports Indicate that Several Cabinet Members Hold Substantial Investments in Various Cryptocurrencies. COMMERCE SECRETARY HOUTNICK, Who recently departed his role leading cantor fitzgerald, has Reportedly Made hundreds of millions of dollars from its ties to tether.

REPRESENTINES for Musk, The White House and from the Commerce Department Didn Bollywood to Immedited to Requests for Comment.

Sacks, who became a well-known national figure as one of the four hosts of the popular all-in podcast, said in an an an an an an an an anna episode of the show last week that he had sold roughly $ 200 million in crypto “because I didn’T want to even have the appearance of a conflict.”

He was responding to criticism that had been left by numerous public officials, including Massachusetts Senator Elizabeth warrenThe top democrat on the senate banking committee. Warren sent a letter to soxs ahead of last week’s first-Eve-Eve White House Crypto Summit, Raising Conflict-of-Interest Concerns and Calling on SCLING on SCLIOSE to Disclose bitcoinEther, solana, and other assets inclined in Trump’s Initial Proposal for a Strategic Reserve.

When president trump finally signed an Executive Order on the matter on March 6, He said the US was establishing a strategic bitcoin reserve that would not include other digital currencies. Sacks said the reserve would be funded exclusively through tokens seized in Criminal and Civil forfeiture Cases, ENSURING No Taxpayer Burden. The order also created a US digital asset stockpile, managed by the treasury department, to hold other confiscated cryptocurrencies.

According to Sacks’ Ethics Disclosure, He and His Venture Firm Sold Off All their Liquid Cryptocurrency Holdings, Including bitcoin, eTherand solanaAs well as his directly help position in the BitWise 10 Crypto Index Fund and shares in Coinbase and Robinhood,

Sacks also began liquidating

There are still a handful of digital asset-reset-reset Holdings in his portfolio. Collectively, these holdings Amount to less than 0.1% of his total investment assets, with their salary described as “certain and Imminent.”