David Sacks defends cryptographic divestment against media criticism

David Sacks, AI and Tsar for the White House, criticized the media for what he described as an unfair representation of his decision to liquidate his digital assets.

He clarified that the measure was not a reflection of the loss of confidence in digital assets, but a necessary step to comply with government ethics rules.

Sacks speaks

On March 18 mail In X, Sacks responded to the reports that affirmed that he “abandoned” his cryptography investments, stating:

“Why do the media always want to portray the cryptography of the worst light? I will not ‘throw’ my cryptocurrency; I diverted it.”

According to the United States Government Ethics Office, officials with personal digital asset investments must liquidate their holdings before participating in the formulation of policies related to cryptocurrencies.

Earlier this month, Sacks confirmed that he had sold all his digital assets. A GOVERNMENT OF MARCH 5 memorandum He revealed that he and his investment firm, Craft Ventures, stripped more than $ 200 million in cryptography after his appointment by President Donald Trump. The 52 -year -old personally unloaded at least $ 85 million in cryptography before assuming his role.

The two previously had notable stakes in the digital asset industry, including shares in Robinhood and Coinbase and limited companies in the venture capital companies Mulicoin and Blockchain capital.

While Craft Ventures retains investments in some new cryptography companies, Sacks no longer has direct exposure to digital assets. Its remaining indirect interests include stakes in the Bitgo cryptographic custody firm and Bitcoin Lightning Labs developer, which represents approximately 2.5% and 1.1% of its total assets.

Public Scrutiny and Defense

The cryptographic tsar was the subject of scrutiny after Trump’s announcement in early March that certain cryptocurrencies, including Solana, would be part of a National Digital Assets Reserve. Critics suggested that, given their role, he was using the opportunity to add to his wallet. Skepticism grew when the president officially authorized the creation of a strategic Bitcoin reserve and digital asset storage later that week.

Responding to these statements, the official defended He himself announcing the public that he had already sold much of his holdings to avoid conflicts of interest.

His argument was also supported by prominent figures in the cryptographic industry, including Cameron Winklevos, co -founder of Gemini, who fixed In X, “he is doing a tremendous job and will not share in any of the possible economics to avoid even the slightest appearance of a conflict.”