Of the the assets sold, the documents said that at least $85 million “is directly attributable to Sacks.” The memo, from White House counsel David Warrington, added that Craft remains an investor in some other funds that have digital assets in their portfolios.

David Sacks sold over $200 million in crypto investments before stepping into his role as the Trump administration’s AI and crypto czar, according to a March 5 White House memo. The document revealed that $85 million of those assets were personally owned by David,

David Sacks divested $200M in crypto assets, including Bitcoin and Ethereum, before his White House role, impacting his portfolio.

The summit was important not only for who was in attendance, but for what the Summit represents for crypto investors, the future of digital assets in U.S. markets, and how the digital asset policy of the U.

President Donald Trump said Friday that he’s committed to making the U.S. a world leader in cryptocurrencies as industry leaders heaped praise on him for reversing what they said had been unfair attacks on digital assets by the previous administration.

President Donald Trump established a Strategic Bitcoin Reserve and a stockpile of other digital assets through an executive order on Thursday, shortly before hosting a crypto summit at the White House.

Attendees expect the event to focus on Trump's plans to build a strategic reserve containing bitcoin and four other coins.

David Sacks, the venture capitalist advising President Trump on crypto and AI policy, sold $85 million of crypto-related assets in order to satisfy government ethics rules, according to a White House memo.