White House AI and Cryptocurrency chief David Sacks clarified in a memo that he is not dumping Cryptocurrency but divesting, emphasizing that this is to avoid suspicion of conflicts of interest, serving President Trump and the American people is an honor. The memo shows that Sacks dumped over $200 million digital asset through personal and company Craft Ventures before taking office, of which $85 million belongs to him personally. Craft Ventures still holds a portion of fund investments related to encryption assets.

Odaily Planet Daily News AI and encryption czar David Sacks posted on the X platform to deny reports of role changes: "Some traditional media reported tonight that my role has changed, which is completely false. I expect to spend half of my time in Washington guiding policy and the other half in Silicon Valley." Prior to the news, according to Fortune, insiders of the transition team revealed that the leadership role was reduced to a general advisory position last week, in part because Sacks was unwilling to leave the investment firm Craft Ventures and did not want to go through the formal appointment process. In the future, Michael Kratsios will lead the technology policy work, while Sacks will provide policy thinking. Despite the changes in the position, Sacks