White House Crypto Summit: David Sacks’s New Corruption Scandal

Ben Graham · Dezembro 5

What’s happening with Web3 after the White House Crypto Summit? David Sacks, the Trump administration’s AI and Crypto Czar, is being accused of helping formulate policies that aid his Silicon Valley friends and many of his own tech investments.

Earlier in the year, Sacks and President Donald Trump unveiled a sweeping AI Action Plan drafted in part by Sacks himself, surrounded by executives from Nvidia, AMD, and a gallery of Silicon Valley allies who stood to benefit from the policy shift.

What the audience witnessed was not just a policy rollout, but direct collusion, according to NYT investigators. Here’s what to know and how this could hurt crypto:

“The tech bros are out of control.” – Steve Bannon

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What’s Next After White House Crypto Summit? Conflict Concerns Grow as Sacks Influences Policy

A New York Times analysis shows Sacks has 708 tech investments, including at least 449 in AI-adjacent firms. Many of these companies directly benefit from his policy guidance, but his filings list them generically as “software” or “hardware,” even when the firms brand themselves as AI-first businesses.

Umm, how? Wouldn’t hundreds of AI and crypto investments be a direct conflict of interest for a public advisor?

Sacks received ethics waivers in March after pledging to divest certain crypto and AI holdings. Yet the filings do not show when assets were sold or what he still owns, making it impossible to determine whether his government role has delivered personal gain.

Another example of the real divide in America between the rich and the rest.

Trump’s crypto czar billionaire David Sacks has investments in over 400 companies that stand to benefit from policies he advances. pic.twitter.com/WqntPzzQDr

— Moe Davis (U.S. Air Force, Retired) (@ColMoeDavis) November 30, 2025

The ethical tension peaked when Sacks’s podcast, All-In, attempted to charge $1 Mn per sponsor for access to a private reception with Trump during the July AI summit. Senior officials intervened to block the arrangement.

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Sacks has championed deregulation that opens an estimated $200 billion market opportunity for chipmakers and AI developers, according to NYT reporters. Some proposals reportedly ran counter to national security advice, prompting internal concern about whether Sacks’s policy compass points toward the country or the industry.

At the same time, Silicon Valley’s influence has soared under Trump. Nvidia and AMD executives flanked the president as he announced accelerated permitting for AI infrastructure and incentives for domestic chip capacity.

(Source: CoinGecko)

Sacks’s crypto portfolio is only part of the story. The White House’s broader pro-Bitcoin stance faced turbulence this week after American Bitcoin (ABTC), a Hut 8 subsidiary backed by Trump-aligned investors, plunged 35 to 50% during a violent selloff.

The decline was driven by a large lock-up expiry that released previously restricted shares from its pre-merger financing. Heavy selling hit a thin float, creating ten times the usual trading volume and repeated halts.

Reuters reported that Donald Trump Jr., Eric Trump, and Hut 8 executives did not sell into the drop, though that did little to slow the liquidation cascade. As it stands, AI and crypto are having a bumpy end to a mostly stagnant market in 2025.

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Key Takeaways

What’s happening with Web3 after the White House Crypto Summit? David Sacks, the Trump administration’s AI and Crypto Czar, is in hot water.
As it stands, AI and crypto are having a bumpy end to a mostly stagnant market in 2025.

The post White House Crypto Summit: David Sacks’s New Corruption Scandal appeared first on 99Bitcoins.