Donald Trump, the president-elect of the United States, has chosen David Sacks, a venture capitalist and former PayPal executive, to serve as the White House AI & Crypto Czar. This newly created role is intended to establish the US as a global leader in both artificial intelligence and cryptocurrency. The appointment has been met with praise from members of the crypto community, who see Sacks as a Trump loyalist from Silicon Valley with a strong interest in crypto technologies. Many believe that his appointment will bring a more positive and supportive attitude towards the industry, which has faced numerous challenges under the previous administration. Sacks’ dual role covering both AI and crypto has also sparked speculation about potential synergies between the two fields. VCs and industry experts have expressed confidence in Sacks’ ability to understand and drive innovation in both areas. However, the extent of his power and influence in this role remains to be seen. In his announcement, Trump emphasized the importance of AI and crypto to American competitiveness and expressed his confidence in Sacks’ ability to lead in these critical technologies. As czar, Sacks will work closely with a council of science and technology advisers to make policy recommendations and develop a legal framework for the crypto industry. This is a long-awaited move for the industry, which has been calling for clear regulations and guidelines for businesses to follow. With the appointment of Sacks and other crypto advocates to key positions, the future looks bright for the industry under the Trump administration.
