On Thursday, newly elected President Donald Trump named former PayPal Chief Operating Officer (COO) David Sacks as the White House’s new AI and cryptocurrency czar.
Making the announcement on his own social media platform, Truth Social, Trump praised Sacks and said he could make his dream come true, which is to make the United States “the clear world leader.”
His appointment agreement is similar to that of Elon Musk, who was recently named head of the Department of Government Efficiency (DOGE). You are not a full-time employee, so you can work up to 130 days a year (with or without compensation) and will not be required to publicly disclose your assets.
Sacks, who currently co-hosts the All In podcast and is also a venture capitalist, will help the government with federal policies related to cryptocurrency and artificial intelligence.
He will also be responsible for leading the Presidential Council of Advisors for Science and Technology, preventing censorship, safeguarding freedom of expression and protecting the two industries from the dominance of big technology companies.
His work will also include forming a legal framework for the crypto industry so that it can finally have the clarity it has been seeking for years.
The “AI and Cryptocurrency Czar” is a position newly created by Trump, so little is known about the responsibilities it entails. But now that Sacks has taken on the role, we can expect to find out more soon.
More about David Sacks
David Sacks has a legacy that goes back 25 years. He began his career as a management consultant for McKinsey & Company. Then, in 1999, he left his job to work for his e-commerce startup Confinity along with three other partners.
This company created the first version of PayPal and the entire project was led by Sacks, who was later named its chief operating officer. He was behind the company, overseeing its sales, marketing, product design, customer service, fraud detection and prevention, human resources functions, and everything else.
In 2002, eBay acquired PayPal and Sacks said goodbye. He went on to launch several successful companies. And finally, in 2020, in the middle of the pandemic, he founded the All-In podcast with 3 other partners that covers politics, technology, business and current events.
Sacks’ stance toward Trump
David Sacks’ stance toward Trump underwent a dramatic shift. Initially, he was very critical of him, especially after the riot at the Capitol on January 6, 2021. In fact, in his podcast, he clearly stated that Trump is responsible for the riot.
However, as the years went by, he gradually moved closer to Trump’s side. In fact, for this year’s campaign, he held a high-profile fundraiser in San Francisco for Trump that managed to generate more than $12 million.
