Of the the assets sold, the documents said that at least $85 million “is directly attributable to Sacks.” The memo, from White House counsel David Warrington, added that Craft remains an investor in some other funds that have digital assets in their portfolios.

David Sacks unloaded hundreds of millions of dollars worth of digital asset-related investments prior to starting his job as the Trump administration’s artificial intelligence (AI) and crypto czar.

David Sacks divested $200M in crypto assets, including Bitcoin and Ethereum, before his White House role, impacting his portfolio.

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.

Sacks is a “special government employee" exempt from the mandatory divestiture required of other public officeholders.

David Sacks, President Donald Trump’s adviser for artificial intelligence and cryptocurrencies, and his venture-capital firm Craft Ventures have divested more than $200 million worth of holdings related to the digital-asset industry,

Sacks sold his digital assets before joining the Trump administration, though his venture firm maintains investments in the industry.

David Sacks, the venture capitalist advising President Trump on crypto and AI policy, sold $85 million of crypto-related assets in order to satisfy government ethics rules, according to a White House memo.