David Sacks Denies Holding Crypto After Becoming White House AI and Crypto Czar

David Sacks, appointed as the White House AI and Crypto Czar by U.S. President Donald Trump, confirmed he sold his crypto holdings before assuming office. However, Community Notes on X questioned this claim, alleging he still holds Bitcoin ETFs through Bitwise.

Sacks dismissed these allegations as false, stating he sold his Bitcoin ETF shares on Jan. 22 and does not have "large indirect holdings." He promised to disclose proof after completing a government ethics review, which will confirm whether he holds any crypto assets.

Financial Times correspondent George Hammond previously reported that Sacks had liquidated his cryptocurrency portfolio, including Bitcoin, Ethereum, and Solana—coins selected by Trump for the Strategic Crypto Reserve. Trump also named ADA and XRP, but Sacks did not mention them.

Trump’s announcement of a U.S. strategic crypto reserve triggered a market surge, pushing Bitcoin up 10.34% to $94,290 before stabilizing at $92,660. XRP soared 24.28% to $2 before dropping 12.93% to $2.63, while ETH gained 14.2% before retracing 6.85%.

As the crypto czar, Sacks must remain transparent, as his policies will directly impact the crypto market. His commitment to divesting crypto holdings aims to ensure credibility and avoid conflicts of interest. The upcoming ethics review will be crucial in proving his claims.