Trump’s Crypto Czar Calls NFTs ‘Collectibles,’ Compares Memecoins to Baseball Cards

Crypto and AI Czar David Sacks called NFT and memecoins “collectibles” in an interview after President Donald Trump signed an executive order seeking to make America the world leader in digital finance.

Asked if digital assets are securities, Sacks said that they can be many different things.

“You've got digital assets that are securities, you’ve got digital assets that are commodities, you’ve got digital assets that are collectibles like NFTs or memecoins,” he said on Fox Business.

Sacks’ comments can’t be taken as a definitive ruling of any kind. As he noted moments later, he is not a regulator. However, as the person guiding policy decisions for the administration, his opinions will carry a lot of weight as the regulatory framework called for in Trump’s executive order is built.

It’s also worth noting that digital assets may be able to fit into more than one regulatory category at a time.

Sacks Defends TRUMP Coin

The question came up again when Sacks was asked if President Trump’s highly controversial TRUMP memecoin was a conflict of interest.

Trump has received harsh criticism about his decision to launch TRUMP days before being sworn in. Democrats and even some Trump supporters have argued that the token gives anyone the ability to put money into Trump’s pocket.

SkyBridge Capital founder and CEO Anthony Scaramucci, briefly Trump’s communications director in his first administration, said on X that “anyone globally can effectively deposit money into the bank account of the President of the United States with just a few clicks.”

Sacks, on the other hand, said that, in his opinion, there is nothing wrong with it.

“I think the Trump coin is a collectible,” he said. “Like I mentioned, there are different categories of digital assets. That's a collectible. It's like a baseball card or a stamp. People buy it because they want to commemorate something.”