With his role as the AI and Crypto Czar for President Trump’s second administration, David Sacks, a noted Silicon Valley venture capitalist and “PayPal Mafia” member, is making a big difference in American cryptocurrency policy. Thanks to Sack’s early use of capital with startups BitGo and Bitwise, born from Craft Ventures, he promotes adopting new technologies in his new role, supporting the U.S. position as a leader in digital assets. By selling $200 million in crypto before he was President, Biden showed his belief in avoiding conflicts of interest, while his plans for stablecoin regulation and the Reserve reflect a major turning point in how crypto is viewed. This essay covers Sacks’ progress, his wealth, and the policies he hopes to see implemented in blockchain soon.
Beginning with PayPal and now promoting cryptocurrencies.
He began his involvement in cryptocurrency back when he was Chief Operating Officer at PayPal and helped scale the company, which eBay acquired for $1.5 billion in 2002. After handling digital payments, he became interested in decentralized finance and purchased Bitcoin as early as 2012, according to what he said on the All-In podcast. Sacks believed that, like PayPal in the past, cryptocurrencies could become a safe and online form of keeping money. After founding Yammer and getting it sold to Microsoft for $1.2 billion in 2012, he began Craft Ventures in 2017, growing to oversee $3.3 billion in assets and investing in BitGo, Bitwise, and other firms related to cryptocurrencies.
Sacks became a clear leader for Bitcoin and blockchain by voicing his views on the All-In podcast, saying the strict policies in the U.S. had forced cryptocurrency businesses to relocate elsewhere. By choosing Ethereum, Solana, and the Bitwise 10 Crypto Index Fund, Michael Cembalest strongly influenced the crypto world. Ms. Warren and a few other politicians expressed concerns that Sacks hadn’t sold all his stakes in crypto-related funds, citing a conflict of interest.
Being chosen as AI and Crypto Czar
December 2024 saw Trump appoint Sacks as the very first White House AI and Crypto Czar, who would oversee policy decisions for AI and Crypto. Sacks’ new role shows he is supporting the administration’s efforts to bring crypto into the mainstream. January 23, 2025, saw him beside Trump when executive orders were made to use digital assets, with the cryptocurrency Bitcoin set to be a part of this through a Strategy Bitcoin Reserve funded by seized digital currencies, as per CNBC. Sacks is tasked with building a regulation that supports new advances while keeping consumers safe, compared to Gary Gensler’s “tougher-than-usual” approach.
At a February 4, 2025, event, Sacks and GOP senators like Tim Scott and John Boozman explained that their main goal was passing legislation for stablecoins. He pointed out that stablecoins could lead to “trillions” worth of demand for U.S. Treasuries, upholding the dollar’s leading place globally, according to Ledger Insights. The purpose of Senator Bill Hagerty’s GENIUS Act is to oversee stablecoin issuers with regulation shared by both federal agencies and states. Sacks also talked about difficulties getting banking services, known as de-banking, and urged that in-country progress in banking would prevent cases such as FTX, which managed its business elsewhere.
How much I own and how I distribute it after accomplishing my goals
His net worth of $1.5 billion this year, according to Forbes, is due to his stake in PayPal, Microsoft buying Yammer for $1.2 billion in 2012, and the impressive performance of Craft Ventures. It was confirmed by a White House memo that the crypto portfolio he owned, including Bitcoin, Ethereum, and Solana, was large, with $200 million divested by him and Craft Ventures and $85 million belonging to Kuhn personally before being named crypto czar. He invested in Coinbase, Robinhood, the Bitwise 10 Crypto Index Fund, and also cashed out his shares in Multicoin Capital and Blockchain Capital. In March 2025, John Sacks explained that he sold all his shares in the Bitwise ETF on January 22, confirming that he does not have “large indirect holdings.” In January 2025, Craft Ventures sold its stake in Bitwise to deal with issues raised by Senator Elizabeth Warren.
Even though Craft Ventures has sold many of its crypto-related holdings, the company still keeps fewer than 0.1% of Sacks’ portfolio, and CNBC says those cryptocurrencies will be sold soon. Peter Schiff, an economist, has argued that Sacks should have held onto his Bitcoin despite selling it for $100,000 in December 2024. Investing in SpaceX, Uber, and Airbnb allowed Sacks to venture beyond cryptocurrencies.
How Policies Can Shape Business
Sacks promotes a policy agenda that includes simple guidelines and new ideas. During an interview with CNBC in February 2025, he mentioned that he focused on making laws for stablecoins and expected passage in six months while pointing out that Bitcoin is a safe place to hold money. He said that the collapse of FTX highlights how past U.S. policies caused many crypto firms to relocate to the Bahamas. His support for Hester Peirce’s Crypto Task Force shows that he is leaning towards softer regulation, with over half of the SEC’s enforcement team being relocated elsewhere by Ropes & Gray.
Sacks talked about a possible boom in crypto for Trump following the $100,000 surge in Bitcoin and an easing of Biden’s restrictions by the Federal Reserve on All-In in May 2025. Similar to other posts on X, @RippleXrpie’s citation mentioned Sacks’ prediction that new rules would encourage growth. He also suggests that blending AI and blockchain can help boost the performance of financial institutions, according to a WIRED article.
What Will Become of Sacks’ Influence in Crypto?
Sacks is booked to present at Bitcoin 2025 in Las Vegas alongside Michael Saylor and Senator Cynthia Lummis, indicating he is gaining more recognition. Through his effort to establish the U.S. Digital Asset Stockpile and outline a stablecoin framework, the Secretary wants to solidify America’s position, but challengers argue that it may lead to chaos, notes Arthur Azizov to TheStreet. Sacks stepped away from his potential conflicts of interest and has always been open about his work, making it clear that any contribution he makes is done without personal motives. It is likely that his reputation will depend on his ability to move forward with innovation while still protecting people in the U.S. crypto market.
FAQs
1. In what capacity does David Sacks serve as the Crypto Czar?
He is the White House’s expert in AI and Crypto, and he guides a group making recommendations on guidelines for cryptocurrencies, mainly concerning stablecoins and a Bitcoin reserve.
2. How much is Sacks estimated to be worth?
PayPal, Yammer, Craft Ventures, and Bitcoin and Ethereum from the past are the main reasons for his current net worth of around $1.5 billion.
3. What cryptocurrencies that Sacks own?
To avoid conflict while serving as czar, he sold over $200 million in Bitcoin, Ethereum, Solana, Coinbase, Robinhood, and Bitwise stocks.
4. In what areas does Sacks pay most attention when developing policies?
He supports stablecoin laws, creating a Strategic Bitcoin Reserve, and providing clear regulations to help crypto companies operate in the U.S.
5. What impact has Sacks had on the crypto industry?
He supports new laws, advocates for protecting consumers, and wants the United States to stay ahead in digital assets thanks to his involvement at All-In, Craft Ventures, and as czar.
