""The White House waived ethics restrictions to allow you to maintain those investments in the industries you regulate," their letter continued. "Any effort to stay beyond the time limits imposed on you as a Special Government Employee (SGE) would raise additional ethics concerns for you and the Trump Administration, particularly as it moves to implement recently enacted cryptocurrency legislation and put in place new rules for the crypto industry.""
""Sacks divested over $200 million related to digital assets with his venture capital fund, Craft Ventures, where he still works. Sacks got a second waiver in July, which outlined AI-focused divestitures. The remaining venture capital funds managed by Craft Ventures that Sacks has a financial interest in are a low percentage of his total investment assets, but that could still be potentially a "heck of a lot of money," one ethics expert told TechCrunch in July.""
Sen. Elizabeth Warren and Rep. Melanie Stansbury led Democrats asking whether David Sacks has exceeded the 130-day time limit for Special Government Employees while overseeing AI and crypto. President Trump appointed Sacks in December and the White House granted a financial conflict-of-interest waiver in March allowing him to serve as an SGE. Sacks divested over $200 million tied to digital assets from his firm Craft Ventures but still works there. A second July waiver addressed AI-focused divestitures. Remaining Craft Ventures funds represent a low percentage of his assets but could still constitute substantial sums. Uncertainty remains about the exact number of days Sacks has worked.
Read at Nextgov.com
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