The White House confirmed David Sacks and his VC firm took “significant steps” to avoid conflicts of interest by selling crypto and related stocks before Donald Trump’s inauguration.
A White House memorandum revealed that David Sacks and his venture capital firm sold more than $200 million in cryptocurrency and crypto-related stocks before he assumed his role as the White House AI and crypto czar.
“You and Craft Ventures have divested over $200 million of positions related to the digital asset industry, of which $85 million is directly attributable to you,” said the memorandum dated March 5.
The memorandum said “significant steps” were taken to reduce potential conflicts of interest before Sacks began his tenure as the White House AI and crypto czar — in which a major part of his role is to help create a legal framework for the crypto industry.
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