White House AI and crypto czar David Sacks responds to New York Times report on potential conflicts of interest, calling it a “nothing burger.” Sacks divested over $200 million in crypto assets before taking on his government role. Sacks retains 20 crypto investments, with potential benefits from policies he supports.

Analysis of Sacks’ financial disclosure shows he has 20 investments tied to crypto that could benefit from his policies. Craft Ventures, where Sacks is a partner, is invested in BitGo, a crypto infrastructure company that filed to go public in September. Sacks was a backer of the stablecoin-regulating GENIUS Act.

Sacks accuses NYT of creating a “bogus narrative” with the report, stating the outlet ignored facts. Sacks’ lawyers accused the Times of writing a hit piece. Sacks complies with rules for special government employees, carefully managing his days to stay under the 130-day limit. Democratic lawmakers have questioned Sacks’ compliance.

The Times notes Sacks’ ties to AI companies that have seen value growth, raising concerns about potential conflicts of interest. Sacks’ ethics waivers stated he would sell his interests in AI and crypto. Sacks’ spokesperson says he follows rules for special government employees, managing his days carefully to stay within limits.

Read more at Cointelegraph: NYT Report on Sacks’ Possible Conflicts a ‘Nothing Burger’