Before taking office, David Sacks sold more than $200 million in digital assets through his personal and company Craft Ventures to avoid conflicts of interest

Foresight News reported that American AI and cryptocurrency czar David Sacks sold over $200 million in digital asset-related investments through his personal and Craft Ventures company prior to taking office, in order to reduce potential conflicts of interest. At least $85 million was directly attributed to David Sacks, but Craft Ventures still holds some fund investments involving crypto assets. David Sacks has cleared his holdings of Bit, Ethereum, Solana, and the Bitwise 10 Crypto Index Fund (BITW), and sold his shares in Coinbase (COIN) and Robinhood (HOOD), as well as his limited partner interests in the crypto funds Multicoin Capital and Blockchain Capital. He is also divesting his minority stakes in Animoca Brands Co., Open Deal Inc., and Amalgamated Token Services Inc. However, David Sacks retains some interests in Craft Ventures' funds, which invest in companies like BitGo and Lightning Labs, and these investments are difficult to fully exit due to liquidity constraints, accounting for less than 3.8% of his total investment assets. Sacks stated that this move is aimed at avoiding any appearance of conflicts of interest and ensuring transparency in his decision-making as a government official.