David Sacks delivers a speech on the first day of the 2024 Republican National Convention in Milwaukee, Wisconsin, on July 15. /AFPBBNews=News1
“President-elect Donald Trump has nominated former PayPal Chief Operating Officer (COO) David Sacks to the newly established position of ‘AI and Cryptocurrency Czar’ at the White House.”
“On the 5th (local time), President-elect Trump announced on his social media platform Truth Social, ‘I am pleased to announce that David Sacks will be the ‘White House AI and Cryptocurrency Czar.’ David will lead the administration’s policies on artificial intelligence (AI) and cryptocurrency, which are critical areas for the future of American competitiveness.'”
He continued, “He will protect free speech online and free us from big tech bias and censorship. He will establish the legal framework to provide the clarity that the cryptocurrency industry has been demanding, enabling it to succeed in America.”
Trump also announced that Sacks would lead the President’s Council of Advisors on Science and Technology.
“Sacks founded the business social media company ‘Yammer’ in 2008, which was acquired by Microsoft in 2012. He later established the venture capital firm Craft Ventures. He is also a host of the tech podcast ‘All-In Podcast.’”
“Sacks was the early COO of the online payment company PayPal and is a member of the ‘PayPal Mafia,’ a group of former PayPal founding members and employees, alongside Elon Musk, CEO of Tesla. Born in South Africa like Musk, he immigrated to the U.S. at the age of four. He supported Trump in the election and hosted fundraising events for the campaign.”
Earlier, U.S. media reports suggested that President-elect Trump would create the positions of ‘AI Czar’ or ‘Cryptocurrency Czar’ at the White House, with expectations that these roles would be established as a combined position. There was also speculation that Musk, a key ally of Trump, would influence the appointment.