David Sacks sold hundreds of millions in digital assets before he became the artificial intelligence and crypto-czar of Trump’s administration.
According a White Housememo released by Presidential Counsel David A. Warrington on Wednesday, Sacks’ investment company Craft Ventures sold their cryptocurrency holdings including Bitcoin (BTC), Ethereum(ETH), and Solana(SOL) before Trump began his second term in January.
Sacks sold shares of Coinbase, Robinhood and other private digital assets companies. He also unloaded limited partnership interests in cryptocurrency-focused funds such as Multicoin Capital or Blockchain Capital.
Sacks sold his interests as a limited partner in approximately 90 venture capital firms “out of a great deal of caution”, because the funds may decide to invest in digital assets.
Warrington claims that Sacks and Craft Ventures sold over $200 million in investments made in the digital assets industry. At least $85,000,000 was held personally by Sacks in order to maintain the integrity of Sacks’ position as a special advisor on crypto.
Craft Ventures is still interested in crypto firms such as the BitGo token platform, Chia Network, a proof-of space and proof-of time blockchain, and Dapper Labs, a blockchain-based game developer.
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Sources of Images include Pixabay Creative Commons & Midjourney
The post David Sacks & Craft Ventures sell $200,000,000 worth of crypto-related investments: White House could be updated as new information becomes available.
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