Trump names David Sacks as White House AI and cryptocurrency czar
President-elect Trump has appointed former PayPal Chief Operating Officer David Sacks as his White House artificial intelligence (AI) and cryptocurrency czar. In a statement released Thursday evening, Trump praised Sacks for his expertise in these crucial areas, stating that he will play a key role in shaping policy to ensure American competitiveness.
According to Trump, Sacks will be tasked with driving America to become the global leader in both artificial intelligence and cryptocurrency. In addition, Sacks will focus on safeguarding free speech online and addressing concerns of bias and censorship by Big Tech companies. Trump emphasized that Sacks will work on establishing a legal framework to provide clarity for the crypto industry, allowing it to thrive in the United States. Sacks will also lead the Presidential Council of Advisors for Science and Technology.
Sacks, a former executive at PayPal, has a successful track record in the tech industry. He has made angel investments in major firms such as Facebook, Uber, SpaceX, Airbnb, and Palantir through his Craft Ventures fund. Additionally, Sacks’ enterprise software company, Yammer, was acquired by Microsoft for over $1 billion in 2012.
The appointment of David Sacks reflects Trump’s commitment to advancing innovation and technology in the United States. By tapping into Sacks’ expertise, the administration aims to position the country as a leader in the rapidly evolving fields of artificial intelligence and cryptocurrency.
Written by Sarah Rumpf-Whitten, a breaking news writer for Fox News Digital and Fox Business. For story tips and ideas, reach out to sarah.rumpf@fox.com or connect on Twitter at @s_rumpfwhitten.
