US President-elect Donald Trump has appointed venture capitalist and podcaster David Sacks as the new “White House A.I. & Crypto Czar.” Sacks will oversee the administration’s policies for artificial intelligence and cryptocurrency, with a focus on creating a legal framework for crypto.
Trump’s announcement comes after Sacks hosted a fundraiser for his campaign earlier this year, where tickets sold for $50,000 to $300,000 per head. This marks a significant turnaround in tone for Sacks, who was critical of Trump following the January 6, 2021, Capitol riot.
As a venture capitalist and entrepreneur, Sacks has experience in the tech industry, having sold Yammer to Microsoft for $1.2 billion in 2012. He is also affiliated with the “PayPal mafia,” a group of prominent technology figures and investors who worked at PayPal in the 1990s.
Sacks will be responsible for guiding the administration’s policies on science and technology, as well as safeguarding free speech online and steering away from big tech bias and censorship. His appointment signals that the second Trump administration is rewarding Silicon Valley figures who supported the campaign, and push for policies favored by cryptocurrency entrepreneurs.
Source: https://www.cnbc.com/2024/12/05/trump-david-sacks-billionaire-ai-crypto.html