The post Who Is David Sacks? And Why Has Donald Trump Made Him Crypto Czar? appeared first on Coinpedia Fintech News
Former PayPal executive and renowned venture capitalist David O. Sacks has been appointed by Donald Trump as the White House’s first “AI & Crypto Czar.” This new role is part of Trump’s plan to make America a global leader in artificial intelligence (AI) and cryptocurrency, two fast-growing fields shaping the future. This announcement came right after Bitcoin hit its milestone of $100k mark.
Why Trump Appointed David Sacks Only?
In a post on Truth Social, Trump announced Sacks’ appointment and highlighted his mission to create a clear legal framework for the cryptocurrency sector. However, Trump’s decision to appoint Sacks arose from his impressive track record as a tech entrepreneur and investor.
Sacks, a founding-era COO of PayPal and a key member of the “PayPal Mafia,” has built and supported some of Silicon Valley’s most successful ventures. His expertise in technology and finance makes him tackle the challenges and opportunities in AI and crypto effectively.
Meanwhile, some experts even hint that Trump’s decision to appoint Sacks is seen as a reward for his loyal support during the campaign. Sacks played a pivotal role in fundraising for Trump, helping to raise $12 million during a high-profile event earlier this year.
What Changes Could Sacks Bring?
David Sacks will focus on creating clear rules for cryptocurrencies to remove confusion and help the U.S. digital asset industry grow. His goal is to support crypto businesses and position the United States as a global leader in digital innovation.
According to Trump, he will “steer us away from Big Tech bias and censorship,” ensuring a balanced digital landscape that supports open discourse. Sacks will also focus on safeguarding free speech in the online space
Additionally, Sacks will chair the Presidential Council of Advisors for Science and Technology, guiding the administration’s policies on emerging technologies.
Sacks Close Ties to Trump and Musk
Sacks has been a strong Trump supporter of Trump, hosting fundraisers and rallying tech industry donors. He also shares close ties with Elon Musk, who has made waves in AI through his company xAI and chatbot Grok. This connection could bring fresh ideas and partnerships to the administration’s tech strategy.
