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.
As the founding COO of PayPal and a member of the renowned “PayPal Mafia,” Sacks played a critical role in shaping the early fintech industry. He later founded Yammer, an enterprise software platform, which Microsoft acquired for $1.2 billion.
Sacks’ position 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 bolstering the U.S. as a leader in innovation.
Trump, in a statement, 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 A.I. & 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.
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