Sacks Divests $200M Crypto Before White House Role

David Sacks, appointed as President Trump's AI and crypto czar, divested over $200 million in digital asset-related investments before taking office to prevent conflicts of interest. Sacks sold his personal holdings and those of Craft Ventures, including cryptocurrencies like Bitcoin, Ethereum, and Solana, as well as stakes in Coinbase and Robinhood. This move was documented in an 11-page White House memo, highlighting efforts to align with ethical standards despite the previous administration's lax approach to conflicts of interest. Senator Elizabeth Warren has raised concerns about the completeness of his divestments and urged Sacks to provide more transparency. Meanwhile, Sacks retains minor holdings in private digital asset companies, and the White House has granted him a limited ethics waiver to engage in digital asset policy-making. Amid these developments, President Trump has launched several crypto projects, with potential regulatory influences from his administration and advisers like Elon Musk.