{"id":9232,"date":"2025-03-03T06:57:25","date_gmt":"2025-03-03T05:57:25","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=9232"},"modified":"2025-03-03T06:57:25","modified_gmt":"2025-03-03T05:57:25","slug":"crypto-mogul-david-sacks-reveals-hes-not-holding-any-digital-assets","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/03\/03\/crypto-mogul-david-sacks-reveals-hes-not-holding-any-digital-assets\/","title":{"rendered":"Crypto Mogul David Sacks Reveals He\u2019s Not Holding Any Digital Assets"},"content":{"rendered":"

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White House AI and cryptocurrency authority David Sacks has acknowledged that he does not possess any cryptocurrency holdings, having divested all assets before US President Donald Trump\u2019s swearing-in. <\/p>\n

\u201cI sold all my digital currencies (including BTC, ETH, and SOL) before the administration commenced,\u201d Sacks stated<\/a> on X on March 2.<\/p>\n

His remarks were in reaction to a Financial Times piece circulated by George Hammond on March 2, indicating<\/a> that his investment firm, Craft Ventures, holds shares in a \u201climited number of crypto startups.\u201d\u00a0<\/p>\n

\u201cAccording to an informed individual, both he [Sacks] and the firm divested their direct cryptocurrency investments shortly after Trump\u2019s inauguration,\u201d reported the FT.\u00a0<\/p>\n

Founded by Sacks in 2017, the San Francisco-headquartered venture capital firm has launched four funds since its inception, with the latest one concluding in November after securing $712 million.\u00a0\u00a0<\/p>\n

As per the official website, Craft Ventures has made investments in Bitwise Asset Management, crypto custodian BitGo, and social media powerhouses Meta, Reddit, and X. Sacks also invested<\/a> in the Solana-focused venture firm Multicoin Capital in 2018.\u00a0\u00a0<\/p>\n

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Source: <\/em>David Sacks<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n

In a previous post, Sacks noted that President Trump \u201cis fulfilling his pledge to establish the US as the Crypto Capital of the World,\u201d following his declaration of a strategic crypto reserve on March 2.\u00a0<\/p>\n

President Trump is set to host the inaugural White House Crypto Summit<\/a> on March 7, gathering industry leaders and executives to deliberate on regulations, stablecoins, and the proposed US crypto reserve.<\/p>\n

Related: <\/strong><\/em>Crypto czar David Sacks compares Trump\u2019s memecoin to a \u2018baseball card\u2019<\/strong><\/em><\/a><\/p>\n

In the interim, President Trump\u2019s son, Eric Trump, expressed<\/a> his admiration for \u201cthe brilliance\u201d of announcing a strategic reserve on a Sunday, a time when traditional markets are closed and Wall Street is inactive.<\/p>\n

\u201cFor the first time, retail investors are victorious,\u201d he proclaimed as cryptocurrency markets surged 12% in response to the announcement. \u201cTraditional finance better adapt or it will swiftly become obsolete,\u201d he remarked.\u00a0<\/p>\n

Anthony Pompliano, the founder and CEO of Professional Capital Management, shared<\/a> the view, stating it was \u201cobjectively humorous\u201d that Trump proclaimed a strategic reserve for cryptocurrency, yet Wall Street cannot engage \u201cbecause they have outdated operating hours.\u201d<\/p>\n

Magazine: <\/strong><\/em>SCB predicts $500K BTC, SEC delays Ether ETF options, and more: Hodler\u2019s Digest<\/strong><\/em><\/a><\/p>\n