Crypto Czar David Sacks: The Man Who Sold His Crypto Before It Was Cool!

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In a curious twist of fate, the illustrious David Sacks, a man of many titles and even more claims, has declared himself devoid of any crypto holdings. One might wonder if he has taken a vow of poverty or merely wishes to avoid the scrutiny of a government ethics review. Ah, the joys of public service! 😏

On the third day of March, in the year of our Lord 2025, Sacks responded to a rather inquisitive post by the ever-curious George Hammond, a correspondent of Venture Capital. The subject? The non-existent crypto holdings of our dear public official. Sacks, with a flourish of bravado, recounted his past life as a crypto enthusiast, boasting of his former possessions: Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). One can almost hear the echoes of his past transactions ringing in the air.

“Correct. I sold all my cryptocurrency (including BTC, ETH, and SOL) prior to the start of the administration,” he proclaimed, as if announcing a great victory in a game of chess. 🏆

Correct. I sold all my cryptocurrency (including BTC, ETH, and SOL) prior to the start of the administration.

— David Sacks (@DavidSacks) March 3, 2025

Yet, dear reader, do not be fooled by his declarations! While he may have divested himself of direct holdings, whispers in the corridors of finance suggest that Sacks still clings to indirect investments through Bitwise Asset Management. A clever ruse, indeed! An inside source, as elusive as a shadow, hinted that both Sacks and his investment firm, Craft Ventures, parted ways with their direct crypto assets shortly after the grand inauguration of President Trump. Timing, as they say, is everything.

Craft Ventures, it seems, has its fingers in a few crypto pies, holding stakes in a select group of firms such as Bitwise, BitGo, Lightning Labs, and Dune. One can only imagine the dinner parties where such topics are discussed with great fervor and perhaps a hint of sarcasm. 🍷

As the report unfolds, Sacks is expected to unveil a comprehensive update on his holdings, as mandated by the ethics review. By shedding his direct crypto assets before donning the mantle of crypto czar, he seeks to assure the public of his impartiality. After all, who would trust a czar with a vested interest in the very tokens he regulates? A noble endeavor, indeed!

His announcement came on the heels of President Trump’s grand proclamation that the U.S. government is “moving forward” with plans to establish a crypto strategic reserve. This reserve, it seems, will include the heavyweights of the crypto world: Bitcoin, Ethereum, XRP, Solana, and Cardano. A veritable buffet of digital delights! 🍽️

“I will make sure the U.S. is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN!” Trump declared with the fervor of a man who has just discovered a new flavor of ice cream.

Who is the crypto czar?

In a moment that could only be described as a stroke of genius—or perhaps a stroke of luck—Donald Trump appointed David O. Sacks as the official “White House A.I. & Crypto Czar” on December 6, 2024. This role, as grand as it sounds, involves Sacks guiding policy in the realms of Artificial Intelligence and Cryptocurrency, two sectors that Trump insists are “critical to the future of American competitiveness.” A tall order, indeed!

David Sacks, the former COO of PayPal and a venture capitalist of some repute, is also known for co-hosting the All-In Podcast. A man of many talents, or perhaps just a man with a knack for being in the right place at the right time.

In his post, Trump lauded Sacks as a paragon of “business experience, intelligence, and pragmatism.” One can only hope that such qualities will shine through in the murky waters of cryptocurrency regulation.

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2025-03-03 12:49