Investing.com — President-elect Donald Trump on Thursday named venture capitalist David Sachs as White House AI and crypto czar, who will guide government policy on the two industries.
President Trump said Sachs is a “very successful entrepreneur” with acumen in two “important” industries.
“David will guide the administration's policy in artificial intelligence and cryptocurrencies, two areas critical to America's future competitiveness. David will position the United States as a clear global leader in both areas. “We are focused on doing what we do,” President Trump said in a social media post.
“…I will work on a legal framework that will give the crypto industry the transparency it has been seeking and allow it to survive in the United States,” Trump said.
Mr. Sachs, a former PayPal executive, has made angel investments in several major companies including Facebook (NASDAQ:), Uber (NYSE:), SpaceX, Airbnb, and Palantir (NASDAQ:) through the Craft Ventures Fund. is being carried out.
His enterprise software company, Yanmar, was acquired by Microsoft (NASDAQ:) in 2012 for more than $1 billion. He also hosts the All In podcast with Chamath Palihapitiya, Jason Karakanis, and David Friedberg.
President Trump said Sacks would also help protect free speech online and move the country away from “Big Tech bias and censorship.” Mr. Sachs has openly supported Mr. Trump during the 2024 election and has also supported digital assets.
Sachs' appointment comes amid heightened speculation over President Trump's crypto-friendly policies, which have soared to record highs above the coveted $100,000 mark.
President Trump has nominated pro-cryptocurrency attorney Paul Atkins to be the next chairman of the Securities and Exchange Commission.
