Trump Appoints Crypto Czar David Sacks to Lead AI and Blockchain Policies

Donald Trump has appointed David Sacks as the inaugural AI & Crypto Czar. His primary objective is to establish U.S. leadership in technology, AI, and crypto innovation by establishing transparent regulations.

Donald Trump made another significant appointment in the AI and tech sector after Bitcoin reached the $100,000 milestone. He appointed David Sacks, a former COO of PayPal and a tech heavyweight, as his White House Artificial Intelligence (AI) and Cryptocurrency Czar. Trump appointed Paul Atkins, a prominent cryptocurrency advocate, to serve as the chairman of the Securities and Exchange Commission (SEC) just one day prior to this announcement.

The crypto industry has experienced substantial losses as a result of the SEC’s overreach and unjust regulations. This represents a significant shift. Not only did these regulations complicate trading for US citizens, but they also prevented major corporations from entering the crypto sector for an extended period. Many new companies from a variety of sectors, including AI, healthcare, automobiles, and technology, are transitioning to Bitcoin in the aftermath of the election.

In the interim, Bitcoin achieved an all-time high of $103,679 on December 5, 2024, illustrating its remarkable growth since its all-time low of $67.81 on July 6, 2013. Although it has experienced a 6.11% decline from its peak, the incredible 143,450% increase from its lowest point emphasizes its long-term growth trajectory and market resilience. Currently, Bitcoin is trading at $97,341.

There is no surprise in Trump’s selection of Sacks. Sacks is a renowned entrepreneur with an exceptional reputation in the technology sector. Through his venture fund, Craft Ventures, he has made investments in significant companies such as Palantir, SpaceX, Airbnb, and Facebook. Additionally, he was a co-founder of Yammer, a software company that Microsoft acquired for more than $1 billion.

In his new position, Sacks will be accountable for the direction of U.S. policy in two critical areas: cryptocurrency and artificial intelligence. Trump emphasized the significance of Sacks’ role, asserting that he would strive to establish the United States as a global leader in these disciplines while safeguarding free speech from what he termed “Big Tech bias and censorship.”

Also Read: U.S. and U.K. Ban Crypto Network Helping Russian Elites Avoid Sanctions