- Former PayPal COO David Sacks to lead U.S. crypto and AI policy under Trump.
- Sacks to create a clear legal framework for the crypto industry.
- Trump aims to make the U.S. the “crypto capital of the planet.”
- Industry experts hail the move as a major step toward innovation-friendly regulations.
In a move that signals a major shift for crypto and AI policy in the United States, President-elect Donald Trump announced the appointment of David Sacks as his “White House AI & Crypto Czar.”
https://twitter.com/shaunmmaguire/status/1864836609667211609
Sacks, the former Chief Operating Officer of PayPal and a well-known tech investor, is expected to lead efforts to provide clarity and reduce regulatory hurdles for these growing industries.
Who is David Sacks?
David Sacks, 52, is no stranger to innovation. As a founding member of the “PayPal Mafia” — a group of influential tech entrepreneurs that includes Elon Musk and Peter Thiel — Sacks has been a key player in the tech world for decades. He co-founded venture capital firm Craft Ventures, led software company Zenefits, and founded Yammer, a social network for enterprise users.
https://twitter.com/theRenderOG/status/1864846866786943026
Born in South Africa, Sacks has long been a supporter of cryptocurrencies. In a 2017 interview with CNBC, he called Bitcoin part of a “decentralized web” and the “internet of money.” His deep understanding of both the technical and commercial aspects of crypto sets him apart from many other policymakers.
Trump’s Crypto and AI Vision
Trump’s decision to appoint Sacks is part of his broader vision to turn the United States into the “crypto capital of the planet.” Once a vocal skeptic of crypto, Trump has fully embraced digital assets during his campaign. He’s promised to create a national stockpile of Bitcoin and build a regulatory environment that fosters innovation rather than stifling it.
https://twitter.com/JesseBWatters/status/1800328343495008673
In his announcement on Truth Social, Trump said Sacks will develop a legal framework to give the crypto industry the clarity it has been demanding. “He will work on a legal framework so the crypto industry has the clarity it has been asking for, and can thrive in the U.S.,” Trump wrote.
Industry Reactions: A Game-Changer for Crypto
The crypto community is buzzing with optimism. Matthew Dibb, Chief Investment Officer at Astronaut Capital, called the appointment “extremely bullish.” “David has had a hands-on approach to crypto over the years,” Dibb said, noting that Sacks has previously held cryptocurrencies like Solana. “He understands the technology and the business side better than most.”
Trump’s incoming administration is shaping up to be crypto-friendly across the board. He recently nominated crypto advocate Paul Atkins to lead the SEC, a move welcomed by industry leaders who have long called for clearer regulations.
Sacks’ Role Beyond Crypto
Sacks’ role isn’t limited to crypto. He’ll also lead a White House advisory council on science and technology, reflecting Trump’s commitment to streamlining government operations. This advisory council is part of the newly formed Department of Government Efficiency, humorously nicknamed “DOGE” — a nod to the popular meme-based cryptocurrency, Dogecoin.
With Trump tech allies like Elon Musk and Peter Thiel in the mix, the incoming administration appears poised to take a hands-off approach to regulating AI and digital assets. The goal: to ensure that innovation in these sectors flourishes without being bogged down by excessive red tape.
A New Chapter for Crypto and AI
Trump’s appointments signal a new chapter for the crypto and AI industries in the U.S. By putting leaders like David Sacks in key positions, the administration is sending a clear message: it wants America to lead in innovation. For crypto enthusiasts, investors, and AI developers, this could mean clearer regulations, more opportunities, and a thriving tech ecosystem.
As Sacks steps into his new role, the crypto community will be watching closely to see how his leadership shapes the future of digital assets and artificial intelligence in the United States.