David Sacks, along with his venture capital firm, reportedly sold over $200 million in crypto and crypto-related stocks before assuming his role as the White House AI and crypto czar, according to a White House memorandum. The memorandum highlighted the steps taken to prevent conflicts of interest before Sacks started his tenure, emphasizing the sale of all “liquid cryptocurrency” in his and Craft Ventures’ portfolios, including holdings in Bitcoin, Ether, and Solana. Additionally, Sacks divested from publicly traded crypto-related firms like Coinbase and Robinhood, as well as stakes in private digital asset companies. The memorandum also mentioned the sale of his limited partner interest in Solana-focused Multichain Capital and Blockchain Capital. Craft Ventures also offloaded its holdings in Multichain Capital and Bitwise Asset Management. The move came amid scrutiny, with Senator Elizabeth Warren urging Sacks to prove he no longer holds any digital assets. Since assuming his role, Sacks has been vocal on various crypto industry issues, advocating for a Strategic Bitcoin Reserve and opposing over-taxing the industry. Notably, Sacks recently opposed the idea of crypto transaction taxes on a podcast, warning against starting with “modest” taxes that could eventually impact middle-class individuals. This stance aligns with his broader views on industry taxation and regulation.