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White House AI and Cryptocurrency chief David Sacks clarified in a memo that he is not dumping Cryptocurrency but divesting, emphasizing that this is to avoid suspicion of conflicts of interest, serving President Trump and the American people is an honor. The memo shows that Sacks dumped over $200 million digital asset through personal and company Craft Ventures before taking office, of which $85 million belongs to him personally. Craft Ventures still holds a portion of fund investments related to encryption assets.