President-elect Donald Trump has named David Sacks, a former PayPal executive and current venture capitalist, as his top policy adviser on artificial intelligence (AI) and cryptocurrency. The announcement, made on Trump’s Truth Social platform on Dec. 6, highlights the administration’s focus on strengthening America’s competitive edge in these emerging fields.

Why David Sacks?

David Sacks boasts an impressive resume. He served as PayPal’s Chief Operating Officer during its early days and later co-founded Yammer, a social networking platform acquired by Microsoft for $1.2 billion in 2012. Recently, Sacks gained attention as a co-host of the popular All In podcast and as a co-founder of the venture capital firm Craft Ventures.

His ties to Trump include hosting a $12 million campaign fundraiser earlier this year, solidifying his reputation as a major supporter of the president-elect.

Key Responsibilities

In his new role as “AI and Crypto Czar,” Sacks will:

• Develop AI and Crypto Policies: Craft a legal framework to provide the crypto industry with regulatory clarity and enable growth within the United States.
• Safeguard Online Speech: Address concerns about bias and censorship by Big Tech, ensuring a balanced and open online environment.
• Advise on Science and Technology: Lead the Presidential Council of Advisors for Science and Technology to guide the administration’s strategy on innovation.

Pro-Crypto Stance

Trump’s decision aligns with his campaign promises to make the U.S. a global leader in cryptocurrency. Sacks joins a growing roster of pro-crypto advisers, including Tesla CEO Elon Musk and Paul Atkins, Trump’s pick to chair the Securities and Exchange Commission (SEC).

These appointments are seen as a signal to the crypto industry that enforcement-heavy policies may be replaced with a more supportive regulatory environment.

The announcement sparked immediate interest within the crypto sector. A memecoin featuring Sacks’ name surged 16,000% in value within hours of Trump’s post, reflecting growing enthusiasm among crypto investors and enthusiasts.

A Vision for the Future

By appointing Sacks, Trump aims to position the U.S. as a leader in two critical sectors: artificial intelligence and cryptocurrency. As the administration takes shape, the industry and public alike will watch closely to see how these policies unfold.