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The former PayPal COO David Sacks has been chosen by President-elect Donald Trump to become the new White House AI and crypto czar.
The news of the decision came in on Thursday (December 5) after several names have been rumored to have been in the running for the last couple of months.
The role is the first of its kind and Sacks will act as an advisor as he’ll offer guidance and leadership to help propel the future of the crypto industry and artificial intelligence.
Trump has big ideas for it too as he has promised several times to make the US the ‘global crypto capital’ over the last several months.
🚨NEW: @realDonaldTrump has nominated Silicon Valley tech entrepreneur @DavidSacks to be White House #crypto and AI Czar. pic.twitter.com/NTzCuyp5m9
— Eleanor Terrett (@EleanorTerrett) December 6, 2024
In a post on Truth Social, Trump shared the news and explained more about the new role:
“I am pleased to announce that David O. Sacks will be the ‘White House A.I. & Crypto Czar.’ In this important role, David will guide policy for the Administration in Artificial Intelligence and Cryptocurrency, two areas critical to the future of American competitiveness.
“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.
“He will work on a legal framework so the Crypto industry has the clarity it has been asking for, and can thrive in the U.S. David will also lead the Presidential Council of Advisors for Science and Technology…”
David Sacks has long been a supporter of Trump and Musk
In the most recent presidential election, venture capitalist and Silicon Valley insider David Sacks held a $300,000-a-person dinner in his mansion in San Francisco to raise money for Trump’s campaign.
He has also been a friend and supporter of Elon Musk, who has become close with the incoming President and will co-lead the ‘Department of Government Efficiency.’ Sacks is also said to have helped back Musk’s bid to acquire Twitter several years ago.
Since the appointment was made, the reactions from those in the crypto and AI industry have come rolling in.
congrats to czar @DavidSacks!
— Sam Altman (@sama) December 6, 2024
The President and COO of Coinbase, Emilie Choi, tweeted: “Great pick. David Sacks was in crypto early and has a nuanced understanding of the space. Time to build in the US!”
OpenAI’s CEO Sam Altman congratulated Sacks on the appointment too.
Image Credit: Flickr
