What to know:
- Donald Trump will appoint venture capitalist and former PayPal Chief Operating Officer David Sacks as White House AI and Crypto Czar.
- Sacks’ responsibilities will include helping craft a legal framework for the crypto industry, Trump said.
As a researcher with a keen interest in technology, finance, and policy-making, I find this appointment of David Sacks as the White House AI and Crypto Czar by President-elect Donald Trump intriguing. With his extensive experience as the former COO of PayPal, working alongside tech visionaries like Elon Musk, and his recent involvement in the crypto industry through MultiCoin Capital and Craft Ventures, Sacks brings a unique blend of expertise to this role.
In an update on his TruthSocial account yesterday evening, President-elect Donald Trump announced that he has appointed David Sacks to the roles of Artificial Intelligence and Cryptocurrency Advisor within the White House.
Trump tweeted that David will be shaping the government’s policies regarding Artificial Intelligence (AI) and Cryptocurrency, which are essential for maintaining America’s competitive edge. His primary goal is to establish America as the undisputed world leader in these two domains.
Sacks joined MultiCoin Capital as a restricted partner back in March 2018. Beyond this role, he is also a general partner and one of the founders at Craft Ventures. Notably, BitGo and Bitwise are among the investments under Craft Ventures’ management.
Trump stated that one of Sacks’ duties would involve ensuring the protection of free speech on the internet, and helping us navigate away from potential bias and censorship by large tech companies.
Trump stated that [Sacks] will develop a legal structure aimed at providing the crypto sector with the much-needed clarity it has requested, thereby fostering its growth within the United States.
Previously, Sacks served as the Chief Operating Officer at Paypal, where he collaborated with Elon Musk during the acquisition of his X.com by the company. Sacks is associated with the “PayPal Mafia,” a collective of ex-Paypal employees who later founded or spearheaded significant tech companies such as Tesla, LinkedIn, Palantir, and YouTube.
Yesterday’s news reveals that Trump announced Paul Atkins, a former SEC Commissioner, as his nominee for the role of head at the securities regulator, which will occur when he assumes office next month. Currently, Atkins is affiliated with The Digital Chamber, a professional lobbying organization in the industry, and serves as an advisor to Reserve and Securitize.
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2024-12-06 04:57