David Sacks Appointed as Crypto Czar by Donald Trump to Lead AI and Blockchain Policies
After Bitcoin reached the $100,000 milestone, Donald Trump made another major appointment, this time in the field of artificial intelligence and technology. He appointed tech heavyweight and former PayPal COO David Sacks as White House artificial intelligence (AI) and cryptocurrency czar. The news comes just a day after Trump selected prominent cryptocurrency advocate Paul Atkins to serve as SEC chairman.
This is a huge change for the crypto industry, which has suffered greatly from the SEC’s overreach and unfair regulation. These regulations not only complicate transactions for U.S. citizens, but also prevent large companies from entering the cryptocurrency space for a long time. After the election, many new companies in various fields such as artificial intelligence, healthcare, automobiles, and technology turned to Bitcoin.
Meanwhile, Bitcoin hit an all-time high of $103,679 on December 5, 2024, showing tremendous growth since hitting an all-time low of $67.81 on July 6, 2013. Although it is down 6.11% from its peak, it still reaches a staggering $143,450. The percentage increase from its nadir highlights its long-term growth trajectory and market resilience. Currently, Bitcoin is trading at $97,341.
Why David Sacks?
Trump’s choice of Sachs is no surprise. Sachs is a well-respected entrepreneur with a stellar track record in the technology world. Through his venture fund Craft Ventures, he has invested in major companies such as Facebook, SpaceX, Airbnb, and Palantir. He also co-founded Yammer, a software company acquired by Microsoft for more than $1 billion.
In his new role, Sachs will be responsible for guiding U.S. policy in two key areas: artificial intelligence and cryptocurrency. Trump emphasized the importance of Sacks’ role, saying he would work to make the United States a global leader in these areas while ensuring free speech is free from what he called “Big Tech bias and censorship.”
Clear cryptocurrency rules are coming
One of Sacks’ key tasks is to develop a clear legal framework for the cryptocurrency industry. This clarity has been a long-standing need for cryptocurrency companies grappling with regulatory uncertainty. Trump said Sacks’ work would help the U.S. cryptocurrency market thrive. In addition, Sacks will serve as chairman of the President’s Council of Advisors on Science and Technology, promoting innovation in artificial intelligence and other cutting-edge technologies.
Industry applauds sacks
The tech and crypto communities are excited about this move. Rumble CEO Chris Pavlovski called It’s a victory for free speech and a tribute to Sachs’ expertise. Cryptocurrency advocate Dennis Porter explain Sacks’ industry knowledge and bold approach make him a perfect fit for the role.
Ripple CEO Brad Garlinghouse congratulate David Sacks has been named White House artificial intelligence and cryptocurrency czar, praising his deep understanding of the technology and his alignment with pro-innovation policies for cryptocurrency and artificial intelligence under President Trump. Garlinghouse called it a “dream team,” reflecting high optimism for Sachs’ role in driving technological innovation in the United States
The appointment signals Trump’s commitment to positioning the United States as a tech powerhouse that balances innovation with regulatory clarity and free speech guarantees.
