Key takeout
- David Sachs sold his entire Bitcoin, Ether and Solana portfolio before joining the Trump administration.
- The White House aims to position the United States as a global crypto leader through its first Crypto Summit, chaired by Sacks.
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White House AI and Crypto Czar's David Sacks confirmed today that they sold an entire portfolio of digital assets, including Bitcoin, Ether and Solana, before joining the Trump administration.
“We sold all of our cryptocurrencies (including BTC, ETH and SOL) before the start of the administration,” Sacks said in response to a tweet from FT correspondent George Hammond.
Sacks venture capital firm Craft Ventures maintains investments in Crypto's startups, but both he and the company have sold their crypto holdings directly following Trump's inauguration.
Sacks is set to chair the first White House Crypto Summit next Friday. This brings the crypto industry leader together with the CEO's working group on digital assets. The summit is part of the administration's initiative to position the US as a global crypto leader and develop clear regulatory guidelines for the industry.
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