David Sacks, widely recognized in the cryptocurrency sphere as the 'Crypto Czar', has taken to social media to address recent allegations circulating within the community. These allegations suggested that Sacks maintained significant indirect holdings in the Bitwise ETF. In a detailed clarification, Sacks disclosed that he previously held a position in the Bitwise ETF, which was valued at a notable $74,000.

However, he pointed out that this position was completely divested on January 22, dispelling any notions of ongoing financial ties to the ETF. Sacks is adamant that the claims made against him are baseless. He promised the community that he would release further updates once the ongoing ethics review process has been completed, reaffirming his commitment to transparency and integrity within the cryptocurrency market..