Trump Appoints David Sacks as White House A.I. and Crypto Czar
President-elect Donald Trump has appointed David Sacks as the “White House A.I. & Crypto Czar.” This announcement was made on Truth Social, where Trump stated that Sacks will focus on establishing America as a global leader in artificial intelligence and cryptocurrency.
Who is David Sacks?
David Sacks is an entrepreneur and investor with 25 years of experience in Silicon Valley. As COO and product leader of PayPal, he was part of the "PayPal Mafia," a group known for founding influential companies after PayPal's sale to eBay in 2002. Notable companies that emerged from this group include Tesla, SpaceX, Facebook, LinkedIn, YouTube, and Yelp.
After PayPal, Sacks founded Yammer, the first enterprise social network, which Microsoft acquired in 2012 for $1.2 billion.
Trump Continues Pro-Crypto Appointments
This appointment comes at a critical time for both AI and cryptocurrency. The AI sector is rapidly evolving, while the crypto industry seeks regulatory clarity amid challenges with SEC Chairman Gary Gensler. If confirmed, Sacks will work on developing a legal framework for the cryptocurrency industry.
Trump emphasized Sacks’ qualifications, highlighting his knowledge and experience. Sacks will also chair the Presidential Council of Science and Technology Advisors, influencing the country's technological direction. His mandate includes safeguarding online free speech and addressing concerns about Big Tech bias.
The simultaneous appointments of Sacks and Paul Atkins as SEC chairman indicate Trump's intent to prioritize disruptive technologies in national policy, potentially reshaping federal approaches to innovation and regulation.