White House crypto czar David Sacks dumps Bitcoin, Ether, and Solana

White House crypto czar David Sacks confirmed in a social media post Sunday that he sold his digital assets before assuming his role in the Trump administration.

“I sold all my cryptocurrency (including BTC, ETH, and SOL) prior to the start of the administration,” Sacks wrote on X.

Sacks is responsible for directing policy on crypto and artificial intelligence (AI), and will chair this week's White House Crypto Summit, where he will confer with digital asset executives about the country's first crypto reserve , among other topics.

As the co-founder of the San Francisco-based venture capital firm Craft Ventures, Sacks also acknowledged his prior exposure to digital assets through a $74,000 investment in a Bitwise exchange-traded fund (ETF).

However, on Sunday, Sacks said that he sold his investments in the Bitwise ETF on January 22. “I do not have ‘large indirect holdings,’” he said.

As White House crypto czar, Sacks is only a part-time “special government employee,” a category that exempts him from the mandatory divestiture required of other public officeholders.

However, Sacks is not alone in drawing scrutiny from groups concerned about potential conflicts of interest. President Donald Trump's launch of a memecoin this year has also faced criticism from the D.C.-based consumer advocacy organization Public Citizen.

“A president soliciting money from the general public for his personal enrichment would be a reprehensible abuse of the presidency,” said Bartlett Naylor, Public Citizens' financial services advocate. “The Department of Justice and Office of Government Ethics owe it to the American people to thoroughly investigate whether Donald Trump’s solicitation is in violation of the law, and, if it is, take appropriate action to stop it.”

The group has also accused the digital asset industry of pumping millions into pro-crypto campaigns nationwide to shift policy. The digital asset industry, however, argues that it is embattled, facing years of alleged debanking , regulatory overreach, and hostility from regulators.