Trump picks David Sacks for Artificial Intelligence and Crypto Tsar, Science and Technology Council
Washington: Donald Trump says he is selecting venture capitalist David Sacks of Craft Ventures to serve as his artificial intelligence and crypto tsar, a newly created position that underscores the US president-elect’s intent to boost two rapidly developing industries.
“David will guide policy for the Administration in Artificial Intelligence and Cryptocurrency, two areas critical to the future of American competitiveness. David will focus on making America the clear global leader in both areas,” Trump said in a post to his Truth Social network on Friday (AEDT).
Trump said Sacks would also lead the Presidential Council of Advisors for Science and Technology.
David Sacks and Elon Musk in 2006. The men worked together at PayPal.Credit: Getty
In Sacks, Trump is tapping one of his most prominent Silicon Valley supporters and fundraisers for a prime position in his administration. Sacks played a key role in bolstering Trump’s fundraising among technology industry donors, including hosting an event at his San Francisco home in June. He is also closely associated with Vice President-elect JD Vance, the investor-turned-Ohio senator.
The new tsar position is expected to help spearhead the crypto industry deregulation Trump promised on the campaign trail. The role is expected to provide cryptocurrency advocates a direct line to the White House and serve as a liaison between Trump, Congress and the federal agencies that interface with digital assets, including the Securities and Exchange Commission and the Commodity Futures Trading Commission.
Trump heavily campaigned on supporting crypto, after previously disparaging digital assets during his first White House term, saying their “value is highly volatile and based on thin air”.
Trump supporter, Silicon Valley entrepreneur David Sacks.Credit: File
He once labelled crypto a scam – but this time during the campaign promised to make the US the “crypto capital of the planet” and to accumulate a national stockpile of bitcoin.
Bitcoin broke $US100,000 for the first time on Thursday, a milestone hailed even by sceptics as a coming-of-age for digital assets as investors bet on a friendly US administration to cement the place of cryptocurrencies in financial markets.
