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President-elect Donald Trump has appointed venture capitalist and podcaster David Sachs as the “White House AI and Cryptocurrency Czar.” The co-host of the popular podcast “All In” will “guide the administration's policy on artificial intelligence and cryptocurrencies.” Sachs sold enterprise software company Yammer to Microsoft for $1.2 billion. Venture in 2012 Established capital company Craft Ventures.
President-elect Donald Trump has appointed venture investor and podcaster David Sachs as the “White House AI and Cryptocurrency Czar,'' indicating that his second administration will focus on hot technology and cryptocurrencies.
President Trump said Thursday night on his Truth Social platform that Sachs, co-host of the popular podcast “All In,” said, It will guide the government's policies.”
According to the New York Times, Sachs is a close friend of Trump ally and Tesla (TSLA) CEO Elon Musk, and a supporter of deregulation of both cryptocurrencies and artificial intelligence (AI). It is said that The announcement came a day after Bitcoin (BTCUSD) surpassed $100,000 on investors' hopes that the White House administration would become friendlier towards cryptocurrencies, and it came a day after Bitcoin (BTCUSD) rose above $100,000 on investors' hopes that the White House administration would become friendlier towards cryptocurrencies. AI stocks have driven record gains in U.S. markets this year.
“David will focus on making the United States a clear world leader on both fronts, protecting free speech online and distancing us from Big Tech's bigotry and censorship,” Trump said. ” he wrote. “He will work on a legal framework that gives the cryptocurrency industry the transparency it has been seeking and allows it to thrive in the United States.”
Mr. Sachs was the chief operating officer of PayPal Holdings (PYPL) when Mr. Musk was the payments company's largest shareholder. Sachs later sold his enterprise software company Yammer to Microsoft for $1.2 billion in 2012 and founded venture capital firm Craft Ventures.
