Donald Trump appoints David Sacks to lead AI and crypto policy in new administration Donald Trump appoints David Sacks to lead AI and crypto policy in new administration
Sacks' appointment sparked enthusiasm in the crypto industry hoping for forward-thinking regulation under his leadership.
2 min read
Updated: Dec. 6, 2024 at 9:58 am UTC
jdlasica / CC BY 2.0 / Flick. Remixed by CryptoSlate
On Dec. 6, US President-elect Donald Trump announced on Truth Social that David Sacks has been named the “White House AI and Crypto Czar. ”
In his new role, Sacks will lead efforts to establish a legal framework for crypto regulation and chair the Presidential Council of Advisors for Science and Technology. Essentially, the appointment positions him at the helm of crafting policies to secure America’s leadership in artificial intelligence and crypto.
Trump added:
“David will focus on making America the clear global leader in both areas. He will safeguard Free Speech online, and steer us away from Big Tech bias and censorship.”
Sacks’ extensive background and industry insights are expected to drive his contributions to shaping policies in these critical sectors.
Sacks, a former PayPal COO and now a prominent venture capitalist, has been a vocal advocate for technological innovation. Earlier this year, he became a key Trump ally and hosted a high-profile fundraiser that reportedly brought in $12 million for the then-Republican candidate’s campaign.
Meanwhile, his appointment aligns with Trump’s vision to modernize the nation’s digital and technological policies. Over the past month, the President-elect has made several pro-crypto appointments, including nominating crypto advocate Paul Atkins to lead the Securities and Exchange Commission.
Crypto industry reacts
The crypto community has largely welcomed Sacks’ new position, seeing it as a step toward clarity and innovation in regulation.
Cardano founder Charles Hoskinson congratulated Sacks and described him as well-suited to the task. Hoskinson highlighted Sacks’ background as essential for addressing regulatory challenges and developing forward-thinking policies.
Ripple CEO Brad Garlinghouse also expressed optimism, pointing to Sacks’ deep technological understanding as a strength for advancing innovation in both AI and blockchain.
Emilie Choi, Coinbase’s president, praised the decision, emphasizing Sacks’ early involvement in crypto and his nuanced understanding of the space.
Similarly, former CFTC Chairman Chris Giancarlo commended Sacks for his experience and commitment to free market principles, describing him as the ideal candidate to help America lead in digital technology.
However, like many of Trump’s potential appointees, Sacks is a polarizing figure. Silicon Valley tech leaders have referred to him as the “most evil person in Silicon Valley” due to the controversy surrounding HR company Zenefits.
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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Ripple
Ripple is a US-based technology company which develops the Ripple payment protocol and exchange network using XRP, the digital asset native to the XRP Ledger.
Coinbase
Coinbase is a digital currency exchange and wallet service that allows individuals to buy, sell, and store digital currencies, such as Bitcoin, Ethereum, and Litecoin.
PayPal
PayPal is an American multinational financial technology firm that operates an online payment system in most countries that permits online money transfers and serves as an electronic replacement for conventional paper methods like checks and money orders.
Charles Hoskinson, based in Colorado, stands out as a prominent figure in the blockchain and cryptocurrency sphere.
Brad Garlinghouse stands at the forefront of financial technology as the CEO of Ripple.
Donald John Trump was born on June 14, 1946, in Queens, New York City.