David Sacks Appointed as White House AI and Crypto Czar by Trump
In a move highlighting his focus on cutting-edge technologies, President-elect Donald Trump announced David Sacks, former PayPal Chief Operating Officer and a close associate of Elon Musk, as the White House Artificial Intelligence (AI) and Cryptocurrency Czar. This newly created role underscores the growing importance of AI and crypto in shaping America’s future.
Trump stated on Truth Social, “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.” Praising Sacks’ business acumen, he described him as someone with the “knowledge, experience, intelligence, and pragmatism to MAKE AMERICA GREAT.”
Sacks’ Close Ties to Trump and Musk
Sacks, known for his influential connections, recently co-hosted a fundraiser for Trump at his San Francisco mansion, raising over $12 million—more than double the original target. Co-sponsored by venture capitalist Chamath Palihapitiya, the event further cemented Sacks’ position within Trump’s inner circle.
Additionally, Sacks shares strong professional ties with Elon Musk. The two are expected to collaborate on AI initiatives, particularly given Musk’s ventures in AI through his company xAI and chatbot platform Grok. Both Sacks and Musk will serve as special government employees, enabling them to retain their private business interests while contributing to public policy.
Unclear Boundaries, Promising Opportunities
As this is a newly established position, the specifics of Sacks’ authority and coordination with government agencies remain undefined. However, his role is expected to include drafting a legal framework for the cryptocurrency sector to provide much-needed regulatory clarity. “He will work on a legal framework so the crypto industry has the clarity it has been asking for and can thrive in the U.S.,” Trump remarked.
Sacks will also head the Council of Advisors for Science and Technology, where his responsibilities will extend to key areas such as energy, environment, public health, and national security.
Market Reactions and Industry Implications
Sacks’ appointment has already sparked optimism in the cryptocurrency market. For the first time in 15 years, Bitcoin surged past the $100,000 mark, reflecting investor anticipation of a more favorable regulatory environment under Sacks’ leadership.
As Trump’s administration prepares to leverage Sacks’ expertise, the U.S. positions itself at the forefront of AI and cryptocurrency innovation, with implications spanning multiple industries.
See Also:
Cognition’s AI Coding Tool Devin Could Disrupt India’s Software Industry
Racist Tirade at LAX Targeting Indian-American Family
Cyber Monday sales projected to reach $13.2 billion
5 MBBS Students Killed in Kerala Road Accident, Car Collides With Bus
JD Vance Thanksgiving Family Photo With Indian Relatives Goes Viral
——————————————————————————-
It would mean the world to us if you follow us on Twitter, Instagram and Facebook. At Newscazt, we strive to bring you the latest news and stories from India, World, Business, Sports, Entertainment and more. Our team of experienced journalists and writers are committed to delivering accurate and unbiased news and analysis.
