David Sacks, former Chief Operating Officer of PayPal, has been named the United States’ first AI and Crypto Czar, a role newly established by President-elect Donald Trump. Trump announced the appointment on Thursday via his Truth Social platform, emphasizing the significance of this position in shaping policies around artificial intelligence and cryptocurrency.
Driving Innovation and Competitiveness
Trump stated that Sacks’ primary objective would be to create a legal framework for the cryptocurrency industry, providing much-needed regulatory clarity to enable its growth in the US “In this important role, David will guide policy for Artificial Intelligence and Cryptocurrency, two areas critical to the future of American competitiveness,” Trump said.
Sacks is also tasked with safeguarding free speech online and addressing perceived bias and censorship by Big Tech companies. Additionally, he will serve as the head of the Presidential Council of Advisors for Science and Technology, furthering his influence over cutting-edge technological advancements in the US.
A Shift in Crypto Policy
Trump’s administration has promised a pro-crypto stance, diverging from his previous criticism of digital assets. The President-elect has vowed to make the US the global hub for cryptocurrency and announced plans to accumulate a national Bitcoin reserve. Earlier this week, he nominated crypto advocate Paul Atkins to lead the Securities and Exchange Commission (SEC), a move that coincided with Bitcoin surging past $100,000.
Who is David Sacks?
David Sacks, 52, is a South African-born entrepreneur and investor. A founding member of the “PayPal Mafia,” he later launched Yammer, a software company acquired by Microsoft for $1.2 billion, and co-founded venture capital firm Craft Ventures. Sacks also co-hosts the popular “All-In Podcast,” discussing tech, politics, and economics.
His role as AI and Crypto Czar will bridge the gap between industry stakeholders and the government, ensuring a direct line of communication with the White House while liaising with Congress and regulatory bodies like the SEC and CFTC.
