President-elect Trump appoints David Sacks as White House cryptocurrency and AI czar. Sacks, a seasoned entrepreneur and investor, brings over two decades of Silicon Valley experience.
Sacks was the founding COO of PayPal and a member of the renowned “PayPal Mafia.” He played a critical role in shaping the early fintech industry. Sacks later founded Yammer, an enterprise software platform, which Microsoft acquired for $1.2 billion.
Trump Establishes the First-Ever Crypto Czar Role
Sacks’ appointment marks the first federal advisory role dedicated to both cryptocurrency and AI policy. While specific responsibilities remain under wraps, he is expected to provide strategic guidance on crafting a unified national approach to these technologies and positioning the US as a leader in next-gen technology.
In a statement, Trump emphasized the importance of establishing a clear legal framework for the cryptocurrency sector, addressing a long-standing demand from the industry.
“I am pleased to announce that David O. Sacks will be the White House AI & Crypto Czar. In this important role, David will guide policy for the Administration in Artificial Intelligence and Cryptocurrency, two areas critical to the future of American competitiveness,” Trump wrote on Truth Social.
This appointment follows Trump’s selection of Paul Atkins, a pro-crypto advocate, to lead the SEC. Atkins will assume the role in January, succeeding Gary Gensler, who announced his resignation last month.
Overall, it looks like Trump is already delivering on his pro-crypto promise. The crypto market has been experiencing a historic bull run since his election victory on November 5.
Exactly a month after his re-election, Bitcoin reached its $100,000 milestone on Wednesday, and Trump even congratulated the crypto community, saying ‘You’re Welcome.’ With David Sacks as the first-ever Crypto Czar, the US regulatory scene is set to significantly change for digital assets.
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