United States President-elect Donald Trump has appointed former PayPal COO and venture capitalist David Sacks as his chief policy advisor for artificial intelligence (AI) and cryptocurrency. The announcement, made on Dec. 6 via Trump’s Truth Social platform, underscores the incoming administration's focus on advancing the U.S.'s position in cutting-edge technologies.Sacks, whom Trump described as "critical to the future of American competitiveness," will spearhead efforts to develop a clear legal framework for the cryptocurrency industry, aiming to foster growth and innovation within the sector. Additionally, Sacks will oversee initiatives to safeguard online free speech and mitigate the influence of Big Tech bias and censorship, a key pillar of Trump’s policy agenda.A High-Profile AppointmentA prominent business leader, Sacks served as an early executive at PayPal, co-founded Yammer—which was acquired by Microsoft for $1.2 billion—and is a co-founder of venture capital firm Craft Ventures. He is also known as a co-host of the "All In" podcast, which delves into business and economic topics. Sacks’s appointment to the role, formally titled “White House A.I. & Crypto Czar,” signals Trump’s intent to reward industry leaders who backed his campaign.Sacks previously hosted a campaign fundraiser that raised $12 million for Trump, solidifying his alignment with the president-elect’s pro-business and pro-crypto policies. As part of his duties, Sacks will chair the Presidential Council of Advisors for Science and Technology.Pro-Crypto AdministrationTrump’s commitment to making the U.S. a global crypto hub has been central to his campaign. His appointments, including pro-crypto figures such as SEC Chair nominee Paul Atkins, have sparked optimism in the crypto industry. Industry leaders hope these moves will reduce regulatory enforcement actions and create a more favorable environment for innovation.Following the announcement, a memecoin associated with Sacks experienced a dramatic 16,000% price surge, reflecting the crypto market’s excitement over the administration’s crypto-friendly direction.With David Sacks at the helm of AI and crypto policy, the Trump administration aims to position the U.S. as a leader in emerging technologies. The move could bring regulatory clarity to the crypto space while driving innovation in AI, aligning with Trump’s vision of strengthening American competitiveness in the global economy, according to Cointelegraph.
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