David Sacks sold over $200 million worth of cryptocurrency assets before taking office

On March 14th, according to a memo released by the White House, David Sacks, the head of artificial intelligence and cryptocurrency affairs, sold over $200 million in digital asset related investments through his personal and company Craft Ventures before taking office. Among them, at least $85 million is directly attributed to Sacks, but Craft Ventures still holds some fund investments involving cryptocurrency assets. Sacks emphasized that selling assets is to "avoid any suspicion of conflict of interest". Sacks sold all its holdings of Bitcoin, Ethereum, and Solana, and cleared its shares in Bitwise 10 Crypto Index Fund, Coinbase, and Robinhood. In addition, he has also begun to withdraw from limited partnership interests in cryptocurrency investment funds such as Multicoin Capital and Blockchain Capital.