Donald Trump Appoints David Sacks as AI and Crypto Czar

President-elect Donald Trump has appointed PayPal co-founder David Sacks as the White House Director of Artificial Intelligence and Cryptocurrency Affairs. The new AI and crypto czar will formulate policies for the administration in the fields of AI and crypto, both of which are considered crucial for the future competitiveness of the United States.

🚨NEW: @realDonaldTrump has nominated Silicon Valley tech entrepreneur @DavidSacks to be White House #crypto and AI Czar. pic.twitter.com/NTzCuyp5m9

— Eleanor Terrett (@EleanorTerrett) December 6, 2024

According to Trump’s statement, “David will focus on making the United States a clear global leader in these two fields. He will defend freedom of speech on the internet and counteract the bias and censorship brought about by big technology companies.”

Courtesy: Truth Social

Who is David Sacks?

David Sacks is a South African-American entrepreneur, author, and investor in internet technology companies. He is currently a general partner at Craft Ventures. Previously, Sacks served as the COO and product leader at PayPal, which was acquired by eBay for $1.5 billion in 2002. He also founded and served as CEO of Yammer, which was acquired by Microsoft for $1.2 billion in 2012.

In 2017, Sacks co-founded Craft Ventures, an early-stage venture capital fund. His angel investments include prominent companies like Facebook, Uber, SpaceX, Palantir Technologies, and Airbnb. He is also the co-host of the popular podcast ‘All-In.’

Is Sacks Pro-Crypto?

The crypto industry is abuzz with speculation about whether Sacks’ appointment will lead to more favorable crypto regulations.

Sacks has been vocal about his pro-crypto stance. He views cryptocurrencies positively, believing they fulfill the original vision of PayPal to create a “new world currency.” In interviews and on social media, he has advocated for the transformative potential of cryptocurrencies and blockchain technology, comparing the current state of crypto to the early days of the internet.

Trump’s team appears to lean pro-crypto, which is encouraging news for the industry. This optimism follows Trump’s recent nomination of Paul Atkins as the new SEC Chair. This announcement helped propel Bitcoin to the milestone of $100K, although it has since slipped back to $97K.