White House AI and crypto czar David Sacks confirmed he owns no crypto assets, having sold off everything before US President Donald Trump took office.

“I sold all my cryptocurrency (including BTC, ETH, and SOL) prior to the start of the administration,” Sacks wrote in a Sunday X post.

Sacks’ remark came in response to concerns over potential conflict of interest regarding Sacks’ ties to Bitwise, which offers a U.S. exchange-traded fund that invests directly in Bitcoin, Ethereum, XRP, Cardano, and Solana, among other crypto assets. 

A Financial Times article shared online on March 2 claimed that while Sacks may have personally exited direct crypto ownership, his investment firm Craft Ventures holds stakes in a “small number of crypto startups.”

The FT reported, citing an anonymous individual privy to the matter, that Sacks is currently undergoing an official ethics review and would disclose updates on his crypto stash later.

An X Community Note claimed that Sacks has “indirect crypto holdings” from investing in Bitwise. He, however, dismissed the claims. 

 “This community note is a lie. I had a $74K position in the Bitwise ETF which I sold on January 22. I do not have ‘large indirect holdings,’” Sacks opined, adding that he would “provide an update at the end of the ethics process.”

In an earlier post, Sacks said that Trump “is keeping his promise to make the US the crypto capital of the world,” following his announcement on Sunday that Bitcoin, Ether, XRP, SOL, and ADA would feature prominently in his planned U.S. strategic crypto reserve. As reported by ZyCrypto, Trump’s post sent crypto markets higher almost instantly.

Sacks’ disclosure regarding his crypto holdings comes as Trump is slated to hold the first Crypto Summit at the White House on March 7, where he is expected to share further plans with industry leaders and executives on how crypto regulations and businesses will be supported in the country.