Trump’s Crypto Czar David Sacks Fires Back: NYT "Hit Piece" on Conflict Claims is a "Nothing Burger"

David Sacks, the venture capitalist tapped as former President Trump's potential 'Crypto Czar,' just torched a New York Times report alleging conflicts of interest—dismissing the entire affair as a 'nothing burger.'

The Clapback Heard 'Round Crypto Twitter

Sacks didn't mince words. In a characteristically blunt social media post, he labeled the Times' deep dive a 'hit piece,' framing its central thesis as a manufactured scandal with no real meat. The response electrified crypto circles, where skepticism of legacy financial media runs deep.

Reading Between the Regulatory Lines

The episode highlights the simmering tension between the emerging digital asset class and established political and media gatekeepers. For proponents, Sacks' appointment signals a potential regulatory thaw; for critics, it raises questions about the revolving door between Silicon Valley and Washington. It's the kind of insider drama that makes traditional finance guys clutch their pearls—right before they check their own portfolios for crypto exposure.

One thing's clear: in the battle for crypto's narrative, the gloves are off. The industry's champions are no longer just building in the shadows—they're fighting for the spotlight, and they're armed with a new playbook that bypasses traditional approval channels. Whether this is principled defense or political posturing depends on which side of the trade you're on.

Sacks Rejects NYT Conflict Claims, Calls Narrative “False” and “Misleading”

The New York Times published its report on Sunday, outlining how Sacks’s wide portfolio of technology and crypto investments could benefit from policy decisions he has helped shape as a special government employee.

The article detailed Sacks’s involvement in the administration’s artificial intelligence strategy, his meetings with Silicon Valley executives, and his long-standing ties to major tech founders.

Sacks responded by calling the story the result of a five-month effort to construct a “hoax.” In his post, titled “INSIDE NYT’S HOAX FACTORY,” he said a team of reporters repeatedly shifted the focus of their accusations after he provided evidence disputing earlier claims.

INSIDE NYT’S HOAX FACTORY

Five months ago, five New York Times reporters were dispatched to create a story about my supposed conflicts of interest working as the WHITE House AI & Crypto Czar.

Through a series of “fact checks” they revealed their accusations, which we debunked… pic.twitter.com/o67ls3RmC6

“Today they evidently just threw up their hands and published this nothing burger,” Sacks wrote.

According to Sacks, the Times’ allegations included a “fabricated dinner” with a major tech executive, supposed promises of presidential access, and claims that he influenced defense contracts.

Each, he said, was “debunked in detail,” yet the investigation continued. He also criticized the paper for including only selected portions of responses he and his team had provided over several months.

Sacks said the Times ignored key information that contradicted its framing. “At no point… was NYT willing to update the premise of their story to accept that I have no conflicts of interest to uncover,” he wrote.

The Crypto Czar said he eventually hired the law firm Clare Locke, known for its defamation work, after concluding the Times was not pursuing a fair process.

He attached the firm’s letter to the newspaper, saying the document provided “full context” for the exchanges.

NYT Highlights Sacks’s Expanding Influence in Trump Administration’s Tech Agenda

Sacks is best known as a co-founder and partner at Craft Ventures, a firm with hundreds of technology investments across software, crypto, and artificial intelligence.

His government role, unpaid and structured under the “special government employee” designation, has faced scrutiny since early this year.

In May, Senator Elizabeth Warren said Sacks was “financially invested in the crypto industry,” which she argued could allow him to benefit from policy changes developed inside the White House.

While The Times report described Sacks as one of the most influential technology figures in the TRUMP administration and highlighted his role in drafting the administration’s AI Action Plan and hosting high-profile industry forums, the report detailed concerns raised by some officials about an AI summit Sacks helped plan in July.

The event was initially expected to be hosted by the “All-In” podcast, which Sacks co-anchors.

According to the Times, some White House staff were worried that sponsorship packages connected to the podcast WOULD create the appearance of selling access. The arrangement was later changed, the report said.

The Times also examined Sacks’s broad investment portfolio, which includes his long-standing network within Silicon Valley, where he has invested alongside figures such as Elon Musk and Peter Thiel for more than two decades.

His ethics waivers, issued in March, noted that he had sold or begun selling many of his crypto and AI assets.

Trump's AI and Crypto Czar @DavidSacks confirmed he sold all direct crypto holdings before the President’s administration began.#DavidSacks #CryptoRegulationhttps://t.co/TpZaVpYl1J

The waivers also said his remaining holdings were “not so substantial” as to influence his government work. However, the Times said the filings do not provide details on the timing of those divestments.

Notably, Sacks’s own spokesperson said the narrative of conflicts of interest was “false,” adding that his work for the government has cost him financially rather than benefited him.