⚡ Trump Names David Sacks as White House “Crypto Czar”
posted 6 Dec 2024
On December 5, 2024, U.S. President-elect Donald Trump announced the appointment of former PayPal COO David Sacks as the White House "White House A.I. & Crypto Czar." This move signals a major shift in U.S. policy on cryptocurrency and artificial intelligence.
Trump’s supporters in the tech sector argue that minimal regulation of cryptocurrencies and artificial intelligence will prevent the innovation-stifling policies seen under the previous administration.
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 wrote on his social media platform, Truth Social.
However, he did not clarify whether "czar" is an official title.
Donald Trump’s Announcement. Source: Truth Social
Sacks will work closely with the new leadership of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Alongside a cryptocurrency advisory council, they will shape a fresh U.S. policy direction for the industry.
Trump’s supporters in the tech sector argue that minimal regulation of cryptocurrencies and artificial intelligence will prevent the innovation-stifling policies seen under the previous administration.
David Sacks, the New White House Crypto Czar. Source: Reuters
The appointment of David Sacks has already received positive reactions. OpenAI CEO Sam Altman congratulated him, writing:
Meanwhile, Elad Gil, an investor in Airbnb and Coinbase, called the appointment a “strong move.”
Steve Jang, founder of Kindred Ventures, commented to Reuters that Sacks is likely to adopt a light regulatory approach.
Matthew Dibb of Astronaut Capital praised the news as highly positive, highlighting Sacks’ hands-on experience with cryptocurrencies, including owning assets like Solana.
David Sacks, originally from South Africa, is a co-founder of the venture capital firm Craft Ventures and a key figure in PayPal’s early history. He also founded the corporate social network Yammer and served as CEO of Zenefits. In 2017, Sacks called Bitcoin the internet revolution and the dawn of the internet of money.
Beyond cryptocurrency, Sacks will also lead the White House Advisory Council on Science and Technology.
Steve Jang, founder of Kindred Ventures, commented to Reuters that Sacks is likely to adopt a light regulatory approach.
Matthew Dibb of Astronaut Capital praised the news as highly positive, highlighting Sacks’ hands-on experience with cryptocurrencies, including owning assets like Solana.
David Sacks, originally from South Africa, is a co-founder of the venture capital firm Craft Ventures and a key figure in PayPal’s early history. He also founded the corporate social network Yammer and served as CEO of Zenefits. In 2017, Sacks called Bitcoin the internet revolution and the dawn of the internet of money.
Beyond cryptocurrency, Sacks will also lead the White House Advisory Council on Science and Technology.
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