President-elect Donald Trump has appointed David Sacks, a venture capitalist and former Chief Operating Officer of PayPal, as the White House’s AI and Crypto Czar. This announcement came via a post on Trump’s TruthSocial account.
Trump stated, “David will guide policy for the Administration in Artificial Intelligence and Cryptocurrency, two areas critical to the future of American competitiveness. David will focus on making America the clear global leader in both areas.”
Sacks, recognized as a member of the “PayPal Mafia”—a term for the influential group of former PayPal employees who have founded or led major tech companies—will have significant responsibilities. Alongside his focus on AI and cryptocurrency, Trump emphasized that Sacks will work on creating a legal framework to provide clarity and support for the crypto industry in the U.S.
In addition, Sacks is mandated to safeguard free speech online and steer away from perceived biases and censorship by Big Tech, according to Trump.
Before this role, Sacks became a limited partner at MultiCoin Capital in March 2018 and is a general partner and co-founder of Craft Ventures, which has invested in companies like BitGo and Bitwise.
This announcement follows Trump’s selection of Paul Atkins, a former SEC Commissioner, to lead the securities regulator in his upcoming administration. Atkins has a background working with The Digital Chamber, an industry lobbying group, providing him with insight and experience in regulatory matters concerning cryptocurrencies.
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