Crypto Czar David Sacks Sells Crypto Holdings Before White House Pushes Digital Asset Policy

3 mins mins

Key Points:

White House AI and crypto czar David Sacks and his firm, Craft Ventures, sold all direct cryptocurrency holdings after Trump took office.
Sacks announced that Senate and House committees will collaborate on digital asset legislation, with a focus on stablecoins.

Crypto Czar David Sacks Sells Crypto Holdings Before White House Pushes Digital Asset Policy

White House artificial intelligence and crypto czar David Sacks and his investment firm, Craft Ventures, sold their direct cryptocurrency holdings shortly after President Donald Trump took office, according to the Financial Times.

Despite divesting direct cryptocurrency assets, Craft Ventures still holds stakes in a small number of crypto-focused startups. The firm remains engaged in the evolving digital asset sector as Sacks works alongside lawmakers on regulatory frameworks.

Crypto Czar David Sacks Sells Crypto Holdings Amid Ethics Review

The assets liquidated included Bitcoin, Solana, and Ethereum. Sacks confirmed the move and stated that he is undergoing a government ethics review, after which he will provide a full update on his financial holdings.

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

In a recent press conference, Sacks announced that the Agriculture and Finance Committees in both the Senate and House would collaborate on new digital asset legislation.

He was joined by the chairs of all four committees, underscoring the bipartisan push for regulatory clarity in the crypto industry. One of the primary areas of focus will be stablecoins, which some policymakers believe could help bolster U.S. government funding by driving demand for Treasury securities.

“Stablecoins have the potential to ensure American dollar dominance internationally to increase the usage of the US dollar digitally as the world’s reserve currency, and in the process create potentially trillions of dollars of demand for US Treasuries, which could lower long-term interest rates,” crypto czar David Sacks stated.

Trump Pushes Pro-Crypto Policies with National Strategy

The White House announced that Trump will host a crypto summit on March 7. The event will be led by Sacks and Bo Hines, the executive director of a working group on digital assets, though Trump is expected to deliver remarks.

Since taking office, Trump has taken a proactive stance on digital assets. In his first days as president, he signed an executive order supporting blockchain technology and digital assets, including the establishment of a national cryptocurrency stockpile.

On Sunday, Trump further revealed that the U.S. crypto strategic reserve of digital assets would include Bitcoin and Ethereum as core holdings, along with other cryptocurrencies such as Solana, XRP, and Cardano.

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