David Sacks Sells Over $200 Million in Investments: Report

President Donald Trump’s adviser on AI and cryptocurrencies, David Sacks, has sold over $200 million in crypto-related investments through his firm, Craft Ventures. The divestment occurs as he assumes a pivotal position in establishing U.S. rules regarding digital assets while guaranteeing adherence to conflict-of-interest laws.

Major Crypto Divestments

According to Bloomberg, citing a White House memo dated March 5, Sacks and Craft Ventures sold all their liquid cryptocurrency holdings, including Bitcoin, Ethereum, and Solana, before Trump’s inauguration. Additionally, Sacks divested his shares in Coinbase Global Inc. and Robinhood Markets Inc., along with limited-partner interests in crypto-focused funds Multicoin Capital and Blockchain Capital. Craft Ventures also sold its holdings in Multicoin Capital and Bitwise Asset Management Inc.

The memo revealed that at least $85 million of the total divestment came directly from Sacks, who incurred a significant tax cost since government employees in his position are not eligible for capital gains tax deferments.

Trump’s Crypto-Friendly Moves

Sacks’ appointment as Trump’s special adviser on AI and cryptocurrencies signals the administration’s growing support for digital assets. He was also named chair of the President’s Working Group on Digital Asset Markets.

Bloomberg reported Trump has reversed his earlier skepticism toward cryptocurrencies since taking office. He recently hosted a Strategic Bitcoin Reserve by signing an executive order and hosting a White House roundtable with business leaders. Also, the Securities and Exchange Commission has withdrawn a number of its lawsuits against cryptocurrency firms, which has lessened regulatory pressure on the industry.

Remaining Investments and Future Plans

Sacks has sold most of his cryptocurrency assets, but he is still selling his shares in Sequoia funds and roughly 90 other venture capital funds, according to Bloomberg. Certain assets, such as private equity in businesses that deal in digital assets, are nevertheless illiquid and difficult to sell.

His role in the administration places him at the center of shaping future crypto policies, aligning with Trump’s new pro-crypto stance.