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.

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.

David Sacks sold over $200 million in crypto investments before stepping into his role as the Trump administration’s AI and crypto czar, according to a March 5 White House memo. The document revealed that $85 million of those assets were personally owned by David,

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,

A White House memorandum confirmed that Sacks liquidated his crypto and related stocks to avoid conflicts of interest before starting his role, following mounting pressure from Senator Warren.

David Sacks sells $200M in crypto, including Bitcoin and Ethereum, to prevent conflicts after Trump appoints him Crypto Czar.