David Sacks, Former COO of PayPal, Offloaded All Cryptos Before the Trump Era

Jakarta, Pintu News – David Sacks, known as the “Crypto Czar” and former Chief Operating Officer (COO) of PayPal, has sold all of his crypto holdings, including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) before Donald Trump begins his term as president. This decision has drawn attention given Sacks’ background as a prominent investor in many major tech companies and crypto projects.

David Sacks’ Crypto Portfolio

Prior to Trump’s inauguration, Sacks had decided to divest all the crypto assets he owned. This included significant positions in Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). In addition, Sacks also sold his $74,000 investment in an exchange-traded fund (ETF) from Bitwise on January 22, two days after Trump was inaugurated.

This decision may have been influenced by predicted regulatory changes or a volatile market. Sacks, who served as COO at PayPal, has an impressive track record of investing in major tech companies such as Airbnb, Palantir, Postmates, Reddit, Slack, SpaceX, Twitter, Uber, and others. His experience and intuition in selecting investments have had a huge impact on the success of various startups and tech projects.

Also Read: Bitcoin Faces New Price Barriers in the Crypto Market: Volatility and Its Impact on Crypto

Investing in the Crypto Industry

Despite having sold his personal crypto assets, Sacks through Craft Ventures, where he is a partner, still has investments in several crypto startups. In 2018, Sacks participated in a $10 million Series A funding for decentralized exchange (DEX) dYdX (DYDX). Craft Ventures continues to show its interest in the crypto industry by maintaining stakes in a small number of crypto startup companies.

A report from the Financial Times mentions that although Craft Ventures has sold its direct crypto holdings, the firm still has interests in several crypto companies. This shows that despite market fluctuations, there is still faith in the long-term potential of blockchain and crypto technology.

Trump’s Response to the Crypto Industry

Recently, Trump announced that the United States will establish a “crypto strategic reserve” that will include Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL), and Cardano (ADA). This is a step taken in response to what it calls a “corrupt attack” on the crypto industry by the Biden Administration.

Trump has ambitions to make the US the “crypto capital of the world,” a vision that has caught the attention of many industry players. The creation of this reserve marks a significant shift in the US government’s approach to crypto, which has previously tended to be more conservative. With this move, Trump seems keen to ensure that the US is not left behind in the global race to capitalize on crypto and blockchain technology.

Conclusion

David Sacks’ decision to sell his pre-Trump crypto assets and focus on investing in crypto startups through Craft Ventures shows an interesting dynamic in the relationship between big investors, technological innovation, and changing government policies. With the latest developments from the Trump administration, the future of the crypto industry in the US looks set to see many changes and possibly new opportunities.

Also Read: Cardano Price Movement Pattern Shows Positive Trend, This is Analyst’s Explanation! (5/3/25)

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This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Daily Hodl. Crypto Czar David Sacks Says He Sold All Bitcoin, Ethereum, and Solana Prior to Trump’s Inauguration. Accessed on March 5, 2025
• Featured Image: Bitcoin.com News