President-elect Donald Trump has named David Sacks, a former PayPal executive, as his “White House A.I. & Crypto Czar,” highlighting a bold shift in U.S. policy on digital currencies and artificial intelligence.
In a post on his Truth Social platform, Trump announced that Sacks will spearhead efforts to establish a legal framework for the cryptocurrency industry, offering much-needed clarity to encourage its growth in the U.S. While the term “czar” was used, it remains unclear if it will be an official title.
Sacks, 52, is a South African-born entrepreneur known for his leadership at PayPal and as the co-founder of Craft Ventures. A member of the “PayPal Mafia,” which includes figures like Peter Thiel and Elon Musk, Sacks has long been a vocal advocate for cryptocurrencies, famously describing Bitcoin as the start of a “new kind of web” in 2017.
In addition to overseeing crypto policy, Sacks will lead a newly established White House advisory council on science and technology. His role is expected to focus on fostering innovation in AI and cryptocurrency, reflecting the administration’s commitment to minimal regulation—a stance shared by many Silicon Valley investors who caution against overregulation stifling progress.
Sacks’ experience in both cryptocurrency and AI startups makes him a strategic choice for the role. Experts predict his efforts will prioritize regulating AI applications in critical sectors while encouraging broader innovation in the field.
Trump’s evolving stance on cryptocurrency—from dismissing it as a “scam” to positioning the U.S. as a global leader in digital assets—has been further solidified by appointing crypto advocate Paul Atkins to head the SEC.
With Bitcoin recently surpassing $100,000, Sacks’ appointment reflects growing optimism about the future of digital currencies under Trump’s leadership. His technical expertise and entrepreneurial background, including ventures like Zenefits and Yammer, make him a pivotal figure in shaping U.S. digital policy.
NEWS DESK
PRESS UPDATE