White House Crypto Czar David Sacks Confirms He Sold All Digital Assets Before Assuming Role

White House crypto and AI czar David Sacks has confirmed that he liquidated all his cryptocurrency holdings before joining the Trump administration, addressing concerns about potential conflicts of interest.

In a post on X (formerly Twitter) Sunday, Sacks stated:

“I sold all my cryptocurrency (including BTC, ETH, and SOL) prior to the start of the administration.”

Sacks is responsible for shaping U.S. policy on crypto and artificial intelligence (AI) and is set to chair this week’s White House Crypto Summit, where discussions will include the establishment of the country’s first crypto reserve and regulatory frameworks.

Before assuming his position, Sacks had exposure to digital assets through his venture capital firm, Craft Ventures, and a $74,000 investment in a Bitwise exchange-traded fund (ETF). However, he clarified in his post:

“I do not have ‘large indirect holdings.’ I sold my Bitwise ETF investment on January 22.”

Sacks serves as a part-time “special government employee”, a designation that exempts him from the mandatory divestiture requirements imposed on full-time government officials.

Despite his divestment, critics remain skeptical about the growing ties between the White House and the crypto industry. Advocacy groups, including Public Citizen, have raised concerns over President Donald Trump’s launch of a memecoin, which has sparked legal and ethical scrutiny.

Bartlett Naylor, a financial services advocate at Public Citizen, issued a statement urging an investigation:

“A president soliciting money from the general public for his personal enrichment would be a reprehensible abuse of the presidency. The Department of Justice and the Office of Government Ethics must investigate whether Trump’s actions violate the law.”

Additionally, pro-crypto lobbying efforts have intensified, with digital asset firms allegedly pouring millions into political campaigns to shift U.S. regulatory policy.

The crypto industry, however, argues that it has been under attack for years, citing debanking practices, regulatory hostility, and enforcement actions against digital asset companies.

With the White House Crypto Summit set to begin this week, all eyes will be on Sacks and the administration’s next steps in shaping the future of crypto regulation and adoption in the U.S.