By Mark Hunter
12 hours agoSat Dec 07 2024 11:56:32
Reading Time: 2 minutes
- President-elect Donald Trump has appointed venture capitalist David Sacks as the White House’s AI and Crypto Czar
- Sacks is tasked with developing policies to enhance US competitiveness in artificial intelligence and cryptocurrency sectors
- He will also lead the Presidential Council of Advisors for Science and Technology, focusing on safeguarding free speech online and addressing Big Tech bias
President-elect Donald Trump has named David Sacks, a prominent venture capitalist and former PayPal executive, as the White House’s AI and Crypto Czar. In this role, Sacks will formulate policies to bolster America’s leadership in artificial intelligence and cryptocurrency while also chairing the Presidential Council of Advisors for Science and Technology to tackle issues like online free speech and perceived Big Tech censorship. Trump talked up crypto and AI on the campaign trail, and he seems to be taking the sectors seriously, as this appointment would imply.
Former PayPal Chief Takes Key Role
David Sacks, known for his tenure as PayPal’s Chief Operating Officer and as a co-founder of Craft Ventures, brings extensive experience in technology and finance. His appointment reflects the incoming administration’s commitment to advancing the United States’ position in emerging technologies.
President-elect Trump emphasized that Sacks will “guide policy for the Administration in Artificial Intelligence and Cryptocurrency, two areas critical to the future of American competitiveness.” In his new capacity, Sacks is expected to develop a comprehensive legal framework that provides clarity for the cryptocurrency industry, fostering its growth within the US This initiative aligns with Trump’s campaign promise to transform the nation into the “crypto capital of the planet” and to establish a national stockpile of Bitcoin .
Additionally, Sacks will focus on safeguarding free speech online and addressing concerns related to Big Tech bias and censorship.
Sacks to Take Council Role
Beyond his duties as AI and Crypto Czar, Sacks will lead the Presidential Council of Advisors for Science and Technology. In this role, he will provide strategic guidance on scientific and technological issues, ensuring that the US remains at the forefront of innovation.
Sacks is a member of Silicon Valley’s “PayPal Mafia,” a group of former PayPal executives who have significantly influenced the tech industry. His ventures include founding the enterprise software company Yammer, which was sold to Microsoft in 2012 for $1.2 billion. Sacks’ appointment is seen as a strategic move to integrate experienced tech industry leadership into federal policy-making, aiming to enhance the US’s competitive edge in critical technological sectors.
This development underscores the administration’s dedication to positioning the United States as a global leader in artificial intelligence and cryptocurrency, addressing regulatory challenges, and promoting innovation.
