Key Points
- David Sacks, former PayPal COO, has been appointed by President-elect Trump as the “White House A.I. & Crypto Czar.”
- Sacks’ role will include overseeing policies related to artificial intelligence and cryptocurrency, sectors deemed critical to America’s future competitiveness.
President-elect Donald Trump recently announced his first major technology appointment for his upcoming administration.
The chosen individual is David Sacks, a successful investor and previously the COO and product leader of PayPal.
Sacks will take on the role of “White House A.I. & Crypto Czar.” The announcement was made on Trump’s social platform, Truth Social.
About David Sacks
David Sacks is a South African-American entrepreneur and investor in internet technology firms.
With over two decades of experience in Silicon Valley, Sacks is well-versed in technological innovation.
He was part of the legendary “PayPal Mafia,” a group of former employees who, after PayPal’s sale to eBay in 2002, founded some of Silicon Valley’s most influential companies.
Among these companies are giants like Tesla, SpaceX, Facebook, LinkedIn, YouTube, and Yelp.
After his time at PayPal, Sacks founded Yammer, an Enterprise Social Network providing secure solutions for internal corporate communication and collaboration.
In 2012, Yammer was acquired by technology giant Microsoft for $1.2 billion.
Pro-Crypto Appointments
This appointment comes at a critical time for both the artificial intelligence and cryptocurrency industries.
As AI continues to transform the global business and military landscape, the crypto sector is seeking regulatory clarity to help it move past years of ongoing struggles with SEC Chairman Gary Gensler.
If Sacks accepts the position, he will be tasked with developing a legal framework that provides the regulatory certainty the cryptocurrency industry has been requesting.
Trump also highlighted Sacks’ role as co-host of the All-In podcast, where he regularly discusses economic, political, and social issues.
One of Sacks’ major responsibilities will be chairing the Presidential Council of Science and Technology Advisors, a role that will grant him significant influence over the country’s technological direction.
Trump mentioned that his mandate will include “safeguarding online free speech and moving away from Big Tech bias and censorship.”
The concurrent appointments of Sacks as AI and Crypto Czar and Paul Atkins as SEC chairman demonstrate Trump’s strategic push to prioritize disruptive technologies in national policy.
This could mark a significant shift in the federal government’s approach to technological innovation and regulation.
