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    Innovation Village | Technology, Product Reviews, Business
    You are at:Home»Appointments»Incoming President Donald Trump Appoints David Sacks as New Crypto and AI “Czar”
    David Sacks

    Incoming President Donald Trump Appoints David Sacks as New Crypto and AI “Czar”

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    By Tapiwa Matthew Mutisi on December 6, 2024 Appointments, Artificial Intelligence, Cryptocurrency, Leadership, News, People

    Incoming President Donald Trump has appointed former PayPal COO David Sacks as the new “czar” for cryptocurrency and artificial intelligence (AI). Trump announced Sacks’ appointment on Thursday via a post on Truth Social, his social networking platform. “David Sacks will work on a legal framework so the Crypto industry has the clarity it has been asking for, and can thrive in the US,” Trump wrote.

    David Sacks, a prominent member of the “PayPal Mafia,” is well-known for his entrepreneurial ventures. He co-founded Yammer, an internal communications tool that Microsoft acquired for $1.2 billion in 2012. Additionally, Sacks is the founder of Craft Ventures, a venture capital fund that has invested in notable startups such as SpaceX, Reddit, and ClickUp.

    In a 2017 interview with CNBC, Sacks expressed his belief that cryptocurrencies like Bitcoin and Ethereum align with the “original vision” of PayPal, which aimed to create a “database of money” where payments remain within the system. While Sacks’ specific views on AI and AI policymaking are less well-documented, his general policy stance is known to be right-leaning and deregulatory. This suggests that his approach to AI regulation may be less stringent than that of the outgoing Biden administration.

    🪙 Bitcoin just crossed $100,000 🚀🚀

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    Tapiwa Matthew Mutisi
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    Tapiwa Matthew Mutisi has been covering blockchain technology, intelligent technologies, cryptocurrency, cybersecurity, telecommunications technology, sustainability, autonomous vehicles, and other topics for Innovation Village since 2017. In the years since, he has published over 4,000 articles — a mix of breaking news, reviews, helpful how-tos, industry analysis, and more. | Open DM on Twitter @TapiwaMutisi

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