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- David Sacks’ appointment as AI & Crypto Czar boosts hope for clear crypto regulations in the U.S.
- Ripple gains momentum as Sacks, a pro-XRP figure, takes charge of crypto policy under Trump.
- XRP’s market surge reflects optimism from leadership changes and a potential resolution of the SEC lawsuit.
President Donald Trump nominated David Sacks as the new White House AI and Crypto Czar on December 5. Sacks is a venture capitalist, All-In Podcast co-host, and former PayPal COO. He is known for his support of Ripple in the ongoing SEC lawsuit.
Sacks Supports Ripple and Crypto
Sacks has been very bullish on Ripple for a long time. He has been backing Ripple in its legal fight against the SEC. The CEO Brad Garlinghouse and the CLO Stuart Alderoty have equally welcomed the appointment. They believe Sacks will help advance Trump’s pro-innovation agenda.
Garlinghouse said Sacks understands technology and business. He will push for policies that support crypto and AI. Sacks is expected to help establish a legal framework for crypto. This could bring much-needed clarity to the industry.
Sacks to Focus on Innovation and Regulation
Sacks will guide policies on AI and cryptocurrency. His role will focus on making the U.S. a global leader in both fields. He will also work to prevent tech bias and safeguard free speech online. Sacks aims to bring regulatory clarity to the crypto industry. This could help businesses grow and thrive.
Trump’s administration has made several moves in favor of crypto. The appointment of Sacks is seen as part of this trend. It has been anticipated to assist the industry to be treated better by the regulators.
However, a problem has been its legal dispute with the Securities and Exchange Commission. The SEC says that XRP is a security which Ripple also denies. Sacks has followed the case closely. He has expressed confidence that Ripple will win.
Furthermore, many crypto experts believe the SEC will soon drop the case. Some even expect the lawsuit to be dismissed. The change in leadership at the SEC is seen as a positive sign. Pro-crypto figures like Sacks are optimistic about the case’s outcome.
Ripple’s Price Reacts to Leadership Changes
These developments have seen the price of XRP go up. And it has recently skyrocketed by a whooping 400% within the past few months. At the moment it is $ 2.36.This price has slightly been raised by about 2% within the last 24 hours. Ripple XRP has also grown its market cap to 134 billion US dollars.
The legal battle and the appointment of Sacks have brought a great change. These changes have received positive responses in the crypto markets. Ripple supporters think that this could be the start of a new phase for Ripple and XRP. With Sacks’ appointment, many hope the legal issues will soon be resolved.
David Sacks’ appointment is seen as a win for the crypto industry. He will help guide policies that benefit both AI and crypto. His priorities are innovations and regulations that should define the future direction of the industry. Crypto enthusiasts are optimistic that his move will extend benefits to digital currencies across the United States.