David Sacks, AI and Crypto Czar of the Trump administration, sold more than $ 200 million in digital investments related to digital assets and through its signature, crafts, before starting the work, according to a note from the White House.
Of the assets sold, the documents say that at least $ 85 million “are directly attributable to the bags.” The Memorando, of the White House lawyer, David Warrington, added that Craft remains an investor in other funds that have digital assets in their portfolios.
The dissemination, dated March 5, has 11 pages, compared to the two -page document of Robert F. Kennedy Jr., the newly installed Secretary of Health and Human Services. The disinversions of Sacks mark a marked contrast to the behavior of others in the administration, and follow Trump’s first term, during which the conflicts of interest were routinely ignored.
President Donald Trump, in addition to his many real estate assets, currently maintains an important participation in Trump Media & Technology Group, the father of Truth Social, negotiated in public, and has launched multiple cryptography projects that can increase or fall into value based on several government policies. And the CEO of Tesla, Elon Musk, who also controls Spacex, the social media company X and the Startup of the XAI, is in position, as one of the president’s main advisors, to shape the regulations in a way that potentially favor its businesses.
Three days before its inauguration, Trump launched a memetken called $ Trump through his company, CIC Digital LLC, which has 80% of the supply of the currency. The Trump family also receives 75% of the income of a separate cryptographic bank launched last year called World Liberty Financial.
Meanwhile, Musk addresses the so -called government efficiency department, or Doge, has government contracts, particularly in Spacex. The company, for example, has a $ 1.8 billion contract with the National Recognition Office to build a spy satellite network.
Beyond Trump and Musk, reports indicate that several cabinet members have substantial investments in several cryptocurrencies. According to the reports, the Secretary of Commerce Howard Lutnick, who recently started from his role as Cantor Fitzgerald, has earned hundreds of millions of dollars from his ties to the connection.
Musk representatives, the White House and the Department of Commerce did not immediately respond to the requests for comments.
Disinversions of Sacks
Sacks, who became a well-known national figure as one of the four hosts of the popular all-in podcast, said in an episode of the program last week that he had sold approximately $ 200 million in cryptography “because he didn’t even want to have the appearance of a conflict.”
He was responding to the criticisms that had been collected by numerous public officials, including Massachusetts Elizabeth Warren, the main Democrat in the Senate Banking Committee. Warren sent a letter to the sacks before the first Crypto summit of the White House last week, raising conflict concerns and asking the bags to reveal any financial participation in Bitcoin, Ether, Solana and other assets included in Trump’s initial proposal for a strategic reserve.
When Trump finally signed an executive order on the matter on March 6, he said that the United States was establishing a strategic Bitcoin reserve that would not include other digital currencies. Sacks said the reservation would be financed exclusively through tokens seized in cases of criminal and civil confiscation, ensuring that there is no taxpayers charge. The order also created a storage of US digital assets, administered by the Treasury Department, to celebrate other confiscated cryptocurrencies.
According to the dissemination of Sacks ethics, he and his risk company sold all their liquid cryptocurrency holdings, including Bitcoin, Ether and Solana, as well as their position directly maintained at the Bitwise Bitwise crypto index bottom and actions in Coinbase and Robinhood.
Sacks also began to liquidate his participation in private digital asset companies, including his limited interest in Cryptographic Investment Funds, such as Multicoin Capital and Capital Blockchain.
There are still a handful of digital holdings related to assets in your wallet. Collectively, these holdings amount to less than 0.1% of their total investment assets, with their sale described as “certain and imminent.”
