David Sacks and Craft Ventures sold over $200 million in crypto and stocks before WH role

From Cointelegraph

March 14, 2025 9:08:37 pm:

David Sacks and Craft Ventures sold over $200 million in crypto and related stocks before his White House role. The move aimed to prevent conflicts of interest as he became the White House AI and crypto czar. Sacks divested from Bitcoin, Ether, Solana, and more before Trump’s inauguration.

After Trump’s inauguration, the crypto market saw a major decline due to proposed tariffs and US interest rate uncertainty. Bitcoin hit a new high of $109,000 but dropped below $80,000 post-inauguration. Currently trading at $84,155, Sacks also sold stakes in Coinbase, Robinhood, and other crypto-related firms.

Sen. Warren requested proof of Sacks’ crypto divestment, following his claims of selling off all digital assets. Sacks has been vocal on crypto issues in his White House role, supporting a Strategic Bitcoin Reserve and opposing over-taxing the industry. He recently pushed back on the idea of crypto transaction taxes.

Read more at Cointelegraph: Sacks and his VC firm sold over $200M in crypto and stocks before WH role