Donald Trump Appoints Former PayPal COO David Sacks as AI and Crypto Czar

US President-elect Donald Trump has taken a bold step to redefine America’s approach to emerging technologies by appointing David Sacks, former COO of PayPal, as his “White House AI and Crypto Czar.” This move signifies a seismic shift in US policy towards artificial intelligence (AI) and cryptocurrency, aiming to position the nation as a global leader in innovation.

Crypto Clarity and Innovation Leadership
Announcing the decision on Truth Social, Trump emphasized Sacks’ role in creating a comprehensive legal framework for the crypto industry, addressing long-standing demands for regulatory clarity. The initiative aims to support the growth of blockchain and AI technologies while ensuring the US remains competitive in these fields.

The incoming administration plans to establish a Crypto Advisory Council, alongside appointing industry advocates like Paul Atkins to lead the Securities and Exchange Commission (SEC). Trump’s strategic appointments highlight his pivot from skepticism to championing digital assets, with a campaign promise to transform the US into the “crypto capital of the planet.”

Industry Reactions to Sacks’ Appointment
The crypto market responded with enthusiasm, highlighted by Bitcoin surpassing $100,000 for the first time. Matthew Dibb, CIO of Astronaut Capital, described the appointment as “extremely bullish,” praising Sacks’ technical expertise and deep involvement in the crypto sector, including his interest in tokens like Solana.

Sacks, a member of the renowned “PayPal Mafia,” which includes tech icons like Peter Thiel and Elon Musk, brings decades of experience in fintech, venture capital, and software innovation. Musk, a long-time crypto enthusiast and now co-lead of Trump’s Department of Government Efficiency (nicknamed DOGE), joins Sacks in shaping a forward-thinking tech agenda.

A Vision for AI and the “Decentralized Web”
Sacks, an early evangelist of blockchain technology, described Bitcoin as central to the rise of a “decentralized web” in a 2017 CNBC interview. His vision aligns with the administration’s goals to streamline government and embrace technological breakthroughs.

Beyond cryptocurrency, Sacks will also oversee the White House Advisory Council on Science and Technology, underscoring his broad influence in shaping the nation’s tech policies.

Paving the Way for a Digital Future
With these moves, the Trump administration aims to establish the US as a leader in cryptocurrency and AI development, ensuring minimal regulation to encourage innovation while creating a supportive ecosystem for digital assets.