## David Sacks, White House AI and Crypto Czar, Clarifies His Crypto Holdings
David Sacks, the White House’s AI and crypto czar, has made it clear that he does not own any cryptocurrency, having sold all his assets before Donald Trump took office as President. In a post on X this past Sunday, Sacks stated, “I sold all my cryptocurrency (including BTC, ETH, and SOL) prior to the start of the administration.” His comments were prompted by concerns regarding potential conflicts of interest due to his connections with Bitwise, a company that offers a U.S. exchange-traded fund (ETF) investing directly in Bitcoin, Ethereum, XRP, Cardano, and Solana, among other digital assets.
A Financial Times article published online on March 2 suggested that while Sacks may have divested from direct cryptocurrency ownership, his investment firm, Craft Ventures, still holds stakes in a “small number of crypto startups.” The report, which cited an anonymous source familiar with the situation, indicated that Sacks is currently undergoing an official ethics review and plans to provide updates on his crypto holdings in the future.
An X Community Note claimed that Sacks has “indirect crypto holdings” through his investment in Bitwise. However, Sacks refuted these claims, stating, “This community note is a lie. I had a $74K position in the Bitwise ETF which I sold on January 22. I do not have ‘large indirect holdings.’” He also mentioned that he would share an update once the ethics review process is complete.
In a previous post, Sacks expressed his belief that Trump is fulfilling his promise to make the U.S. the “crypto capital of the world.” This statement followed Trump’s announcement that Bitcoin, Ether, XRP, SOL, and ADA would play a significant role in his proposed U.S. strategic crypto reserve. As reported by ZyCrypto, Trump’s announcement had an immediate positive impact on the crypto markets.
Sacks’ clarification about his crypto holdings comes at a pivotal time, as Trump is set to host the first Crypto Summit at the White House on March 7. During this event, he is expected to outline further plans for supporting crypto regulations and businesses in the country, engaging with industry leaders and executives to discuss the future of cryptocurrency in the U.S.