David Sacks further clarifies: not 'dumping' Cryptocurrency, but divesting due to political reasons

2025-03-19 00:41:00

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BlockBeats news, on March 19, White House AI and Cryptocurrency chief David Sacks once again clarified in a post, “I did not “dump” my Cryptocurrency, but rather divested from it. Obviously, I did not want to do this, but government ethical standards required me to do so. It is an honor to be able to serve President Trump and the American people.” BlockBeats previously reported that on March 15, according to a memorandum released by the White House, AI and Cryptocurrency affairs chief David Sacks divested over $200 million in digital asset-related investments through personal and his company Craft Ventures before taking office. At least $85 million directly vested in Sacks, but Craft Ventures still holds some fund investments related to encryption assets. Sacks emphasized that selling the assets was to “avoid any suspicion of conflict of interest.”

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LuckyGooseThatExplode

· 03-19 01:46

David Sacks, the White House AI and Crypto Assets Director, clarified in a memorandum that he is not selling Crypto Assets but rather divesting, emphasizing that this is to avoid the appearance of a conflict of interest and that serving President Trump and the American people is an honor. The memorandum shows that Sacks sold over $200 million in digital assets through personal and company Craft Ventures before taking office, including $85 million belonging to him personally. Craft Ventures still holds a portion of its fund investments involving Crypto Assets.

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