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Trump appoints former PayPal COO David Sacks as AI and crypto czar
Trump on his social-media site Truth Social said, "He will work on a legal framework so the Crypto industry has the clarity it has been asking for and can thrive in the U.S."
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Reuters - Thu, 05, Dec 2024
- 21:12 EST
- 339
David Sacks, former CEO of Yammer speaks during Day 1 of the Republican National Convention (RNC), at the Fiserv Forum in Milwaukee, Wisconsin, U.S., July 15, 2024. REUTERS/Mike Segar/File Photo / Reuters
U.S. President-elect Donald Trump on Dec. 5 said he was appointing former PayPal Chief Operating Officer David Sacks to be his White House Artificial Intelligence and Crypto Czar.
"He will work on a legal framework so the Crypto industry has the clarity it has been asking for, and can thrive in the U.S.," Trump said in a post on his social-media site Truth Social.
Trump - who once labeled crypto a scam - embraced digital assets during his campaign, promising to make the United States the "crypto capital of the planet" and to accumulate a national stockpile of bitcoin.
Bitcoin broke US$100,000 for the first time on Dec. 4 night, a milestone hailed even by skeptics as a coming-of-age for digital assets as investors bet on a friendly U.S. administration to cement the place of cryptocurrencies in financial markets.
Sacks is also a former chief executive of software company Zenefits and founded Yammer, a social network for enterprise users.
Trump said Sacks will also lead the Presidential Council of Advisors for Science and Technology.
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