The crypto-friendly policy of US President-elect Donald Trump has been further clarified with the appointment of David O. Sacks to the role of ‘AI and Crypto Czar’.
Sacks is the former Chief Operating Officer (COO) of global money transfer giant PayPal, having played a role in the firm since its early days while working at Confinity, its predecessor in the late 1990s and early 2000s.
He is a member of the so-called ‘PayPal Mafia’, a grouping of former PayPal senior leaders who have gone to form, or at least play a role in the formation of several other major tech companies.
“I am pleased to announce that David O. Sacks will be the “White House A.I. & Crypto Czar,” Trump wrote in a post on Truth Social, the social media platform owned by his technology company.
“In this important role, David will guide policy for the Administration in AI 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 US David will also lead the Presidential Council of Advisors for Science and Technology.”
As AI and Crypto Czar, Sacks will have chief responsibility for coordinating the US’ policies towards AI and cryptocurrency under Trump’s presidency, due to commence in January next year.
Trump is vocally pro-cryptocurrency, having pledged numerous times while on his campaign trail to ‘protect’ people’s Bitcoin. He has also been very critical of Gary Gensler, Chair of the US Securities and Exchange Commission (SEC), who is not a popular figure among US crypto circles.
However, he has not been as supportive of AI development. The Republican politician and businessman has labelled AI as a “tremendous problem” and previously stated that it is almost as dangerous, if not more dangerous than CBDCs – these being one of the only areas of digital currency he is vocally opposed to.
Sacks’ appointment will likely see the former PayPal executive work with Elon Musk, a former PayPal coworker. Musk has become one of Trump’s biggest allies in the business and tech spaces over the past couple of years, and has been appointed to lead a new government body, the Department of Government Efficiency (DOGE).
