President-elect Donald Trump has appointed venture investor and podcaster David Sacks as the ‘White House A.I. & Crypto Czar.’ This appointment signifies the incoming administration’s focus on technology and cryptocurrencies.
Sacks, the co-host of the popular ‘All-In’ podcast, will be responsible for guiding policy in Artificial Intelligence and Cryptocurrency, areas deemed critical to the future of American competitiveness, according to Trump.
Trump announced on his Truth Social platform that Sacks will ‘guide policy for the Administration in Artificial Intelligence and Cryptocurrency.’ Sacks is known to be a close friend of Elon Musk, Tesla’s CEO, and has advocated for looser regulation in both cryptocurrency and AI.
The announcement followed bitcoin’s value surpassing $100,000 due to investor expectations of a more crypto-friendly White House, and AI-focused stocks like Nvidia have contributed to this year’s market rally in the U.S.
Trump stated that Sacks 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 is also tasked with developing a legal framework to support the growth of the Crypto industry in the U.S.
Sacks’ background includes being PayPal Holdings’ COO at its founding, with Musk as the company’s largest shareholder. He later sold his enterprise software company, Yammer, to Microsoft for $1.2 billion in 2012 and established Craft Ventures, a venture capital firm.
If you have a news tip for Apexfinancialpath reporters, please email us at tips@apexfinancialpath.com
