White House AI and cryptocurrency czar David Sacks and his firm, Craft Ventures, have sold their direct cryptocurrency holdings following Donald Trump’s inauguration, according to a Financial Times report.
Sacks confirmed the sale on X, stating that he is undergoing a government ethics review and will provide a full update on his holdings once the process is complete.
Despite this divestment, Craft Ventures continues to maintain investments in crypto-related startups, including institutional custody provider BitGo and crypto hedge fund Multicoin Capital. The divested assets included Bitcoin, Solana, and Ethereum.
Sacks to Lead White House Crypto Summit Amid Regulatory Push
A longtime advocate for cryptocurrency, Sacks has previously expressed strong support for digital assets, likening them to PayPal’s early vision of creating a digital money database.
He has been particularly bullish on Solana, having invested in it through Multicoin Capital. In past discussions, he disclosed that his investment in Solana had generated returns of approximately $1 billion.
Additionally, the White House announced that President Trump will host a separate crypto summit on March 7. While Sacks and Bo Hines, executive director of the working group on digital assets, will oversee the event, Trump is expected to deliver remarks during the gathering.
The summit is part of the administration’s broader strategy to position the United States as a leader in the digital asset space and establish clearer regulatory frameworks for the industry.
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