Crypto King David Sacks Deeply Engages in the Crypto Industry, White House Documents Reveal His Investment Portfolio
According to a memorandum released by White House legal advisor David Warrington, crypto king David Sacks and his venture capital firm Craft Ventures have sold assets related to the digital asset industry worth over $200 million. The documents also reveal his numerous investments in the crypto industry.
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Sacks Liquidated Cryptocurrencies and Most Related Equity Before the Inauguration
Sacks Sold for $85 Million, No Right to Deferred Capital Gains Tax Payment
Sacks Liquidated Cryptocurrencies and Most Related Equity Before the Inauguration
Crypto King David Sacks and his venture capital firm Craft Ventures sold all their liquid cryptocurrencies, including Bitcoin, Ethereum, and Solana, before Trump's inauguration. Subsequently, they sold their shares in Coinbase Global Inc. and Robinhood Markets Inc., as well as limited partner interests in crypto funds Multicoin Capital and Blockchain Capital. Craft also sold its stakes in Multicoin Capital and Bitwise Asset Management Inc.
However, according to the disclosure, he still holds equity in BitGo, accounting for 2.468% of Craft Funds' assets. Other companies related to the crypto industry include Dapper Labs, dYdX Trading Inc., Lightning Labs, and others.