White House Crypto Chief David Sacks Dumps All His Crypto Holdings

White House crypto chief David Sacks confirms he sold all his crypto holdings before joining Trump’s administration, as the U.S. pushes forward with crypto policies.
David Sacks, the White House AI and crypto czar, has confirmed that he no longer holds any cryptocurrency. In a statement on March 2, Sacks revealed that he sold his Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) before assuming his role in President Donald Trump’s administration.

In response to reports about his financial interests, Sacks stated on X that he had sold all his cryptocurrency holdings before joining the administration.

Correct. I sold all my cryptocurrency (including BTC, ETH, and SOL) prior to the start of the administration. https://t.co/dN6nuGQUtu

— David Sacks (@DavidSacks) March 3, 2025

His remarks came after a report from the Financial Times, which indicated that his investment company, Craft Ventures, continues to possess stakes in multiple crypto-related startups. The company, established in 2017, has supported firms like Bitwise Asset Management, BitGo, and various other blockchain-oriented enterprises.

A source referenced by the Financial Times additionally verified that Craft Ventures sold off its direct cryptocurrency assets right after Trump’s inauguration. Nonetheless, uncertainties persist regarding indirect exposure via investments in crypto-oriented funds

Questions Raised Over Investment Ties

Following Sacks’ announcement, some industry figures raised concerns about his potential indirect exposure to digital assets. Adam Cochran, managing partner at Cinneamhain Ventures, questioned whether Sacks’ divestment included liquidity pool positions or stakes in crypto-related funds.

Sacks later denied claims that he held large indirect investments, responding to a Community Note on X that suggested his firm still had major crypto-related exposure.

“That is a lie,” Sacks wrote.

He also disclosed that he had a $74,000 position in a Bitwise ETF, which he sold on January 22. He added that he would provide further details after completing a government ethics review.

Trump Administration Moves Forward with Crypto Plans

Sacks has been an active participant in shaping U.S. crypto policy since his appointment in December 2024. As chair of the President’s Digital Asset Working Group, he has worked on developing regulatory guidelines for the industry.

His role comes as President Trump pushes new crypto initiatives, including the creation of a national cryptocurrency reserve. Trump’s recent announcement confirmed that the reserve will include BTC, ETH, ADA, SOL, and XRP.

The White House will also host its first Crypto Summit on March 7, bringing together industry leaders and executives to discuss regulations, stablecoins, and the crypto reserve. Sacks is expected to play a key role in the discussions.

Crypto Market Reaction and Industry Response

Following Trump’s crypto reserve announcement, major cryptocurrencies experienced a market surge. Bitcoin rose over 10%, trading at $93,080, while Ethereum saw similar gains.

Trump’s son, Eric Trump, commented on the timing of the announcement, calling it “genius” because it came on a Sunday, when traditional markets were closed.

“For the first time, retail investors win,” he said, adding that traditional finance needs to adapt quickly or risk becoming obsolete.

With the White House Crypto Summit approaching, industry participants are closely watching how Sacks’ policies and Trump’s crypto strategy will shape the regulatory landscape in the coming months.