David Sacks, who held a prominent role during Trump's administration as the AI and Crypto Czar, has taken a stand against media portrayals that depict his recent cryptocurrency divestment as a market "dump." Sacks, along with his firm Craft Ventures, liquidated over $200 million in digital assets to comply with government ethics rules.

In a memo, the White House acknowledged the divestment as a significant step to minimize potential conflicts of interest. Despite this, media outlets characterized the sale inaccurately, prompting Sacks to clarify on X, saying he "did not 'dump'" his holdings.

Sacks emphasized that the media's narrative attempts to damage cryptocurrency's credibility, drawing support from industry leaders like Binance's CZ. Critics argue media outlets reflect societal biases against crypto, highlighting the tension between crypto's ethos and traditional systems.

The controversy occurs amid rising opposition to Trump's establishment of a digital asset stockpile, with a survey indicating public skepticism about government involvement in crypto and blockchain development.