David Sacks, an adviser to former President Donald Trump on AI and cryptocurrencies, has divested over US$200 million in digital asset investments ahead of his appointment.

A White House memo on Mar. 5 confirmed that Sacks and his firm, Craft Ventures, sold all liquid cryptocurrency holdings, including bitcoin, ethereum, and solana.

He also sold stocks in Coinbase and Robinhood and exited crypto funds like Multicoin Capital and Blockchain Capital.

At least US$85 million of the divested assets belonged directly to Sacks, who faced significant tax costs due to ineligibility for capital-gains tax deferments.

Despite these divestments, Sacks still holds financial interests in certain illiquid digital asset firms through Craft Ventures.

His disclosures were part of a waiver allowing him to serve as Trump’s AI and crypto adviser while chairing the president’s Working Group on Digital Asset Markets.

This move aligns with Trump’s recent shift toward supporting cryptocurrency, marked by an executive order establishing a Strategic Bitcoin Reserve and efforts to dismiss Securities and Exchange Commission (SEC) actions against crypto firms.