Midway through Thursday, President-Elect Donald Trump announced that he was appointing David Sacks, the former chief operating officer COO of PayPal as the White House’s artificial intelligence and cryptocurrency czar.
A move that further suggests the incoming administration’s unbiased pro-crypto stance and a possible change toward overhauling U.S. policy.
Sacks, a Silicon Valley insider and investor, with close ties to Elon Musk, was instrumental in his Twitter acquisition, now renamed X.
The two tech giants reportedly advised the president-elect to choose JD Vance as his running mate.
In a post on his social media platform Truth, Trump stated “I am pleased to announce that David O. Sacks will be the White House AI & Crypto Czar. In this important role, David will guide policy for the Administration in Artificial Intelligence and Cryptocurrency, two areas critical to the future of American competitiveness.”
In addition to this new advisory role, Trump said Sacks will lead his council of Advisors on Science and Technology, an independent committee of professionals who have historically assisted presidents in making critical decisions and formulating evidence-based policy recommendations.
Notably, Trump’s tech supporters largely favour less regulation of cryptocurrencies like bitcoin and artificial intelligence, arguing that Washington would stifle developing, creative industries with excessive regulations.