Trump Appoints David Sacks as First White House Crypto and AI Czar
Donald Trump appointed David Sacks as the first White House Crypto and AI Czar, influencing US policy on emerging technologies. Sacks, a veteran entrepreneur with over 20 years in Silicon Valley, served as the founding COO of PayPal and founded Yammer, acquired by Microsoft for $1.2 billion.
This role addresses the need for a national strategy on cryptocurrency and artificial intelligence. Sacks will guide US policy, create a legal framework for digital assets, and enhance America's leadership in next-generation technologies. Trump highlighted this appointment as vital for maintaining American competitiveness in these areas.
Trump further demonstrated his pro-crypto stance by selecting Paul Atkins as the next SEC Chair to replace Gary Gensler in January. Atkins is known for advocating a regulatory approach more favorable to the crypto industry, aligning with Trump’s objectives.
The crypto market reacted positively to Trump's leadership, with Bitcoin reaching an all-time high of $100,000 shortly after his re-election, a milestone acknowledged by Trump. He remarked, “You’re welcome.”
With David Sacks as the first Crypto Czar, the US is set to revise its digital asset and AI policies, indicating a new phase for the tech and crypto sectors. These appointments reflect Trump's commitment to fostering innovation and addressing regulatory gaps.