U.S. President-elect Donald Trump announced on Thursday the appointment of David Sacks, former COO of PayPal and venture capitalist, as his “White House A.I. & Crypto Czar.” While not confirmed as an official title, Trump stated on Truth Social that Sacks will craft a legal framework to provide regulatory clarity for the cryptocurrency industry, enabling its growth in the U.S.
This move aligns with Trump’s campaign pledge to position the U.S. as the global leader in digital assets. Sacks will collaborate with key figures, including the incoming chairs of the SEC and CFTC, as well as a newly formed crypto advisory council. Industry leaders view the appointment positively. Investor Elad Gil praised the decision, and OpenAI CEO Sam Altman extended congratulations.
Experts anticipate Sacks will adopt a balanced regulatory approach, emphasizing AI’s applications rather than its development. This aligns with Silicon Valley’s push against heavy-handed regulation, evident in its opposition to California’s SB 1047 bill.
Sacks is part of the “PayPal Mafia,” alongside Trump allies Peter Thiel and Elon Musk. Musk, a crypto advocate, was also named co-lead of the Department of Government Efficiency, nicknamed DOGE.
Trump further announced Paul Atkins, a crypto advocate, as his SEC nominee. The industry celebrated this move as Bitcoin surged past $100,000, signaling optimism about the administration’s crypto-friendly stance.
Sacks, a long-time cryptocurrency supporter, once described Bitcoin as revolutionary for creating a “decentralized web.” He will also lead a White House advisory council on science and technology, further shaping U.S. innovation policy.
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