President-elect Donald Trump has announced the appointment of former PayPal Chief Operating Officer David Sacks as the White House artificial intelligence and cryptocurrency czar. The decision, revealed on December 5, underscores Trump’s campaign pledge to position the United States as the global leader in both AI and digital assets.
“He will work on a legal framework so the crypto industry has the clarity it has been asking for, and can thrive in the US,” Trump stated in a post on his Truth Social platform.
Sacks, a tech industry veteran, brings an impressive résumé to the role. In addition to his tenure at PayPal, he served as CEO of software firm Zenefits and is the founder of Yammer, a pioneering enterprise social network.
The appointment marks a significant shift for Trump, who had once referred to cryptocurrencies as a “scam.” However, during his campaign, Trump embraced digital currencies, pledging to transform the United States into the “crypto capital of the planet.” His vision includes developing a clear regulatory framework for cryptocurrencies and building a national Bitcoin reserve.
The announcement came shortly after Bitcoin surpassed $100,000 for the first time on the night of December 4. The milestone has been hailed as a defining moment for digital assets, signaling their growing maturity and acceptance in global financial markets. Investors have increasingly bet on a pro-crypto Trump administration to solidify the role of cryptocurrencies in mainstream finance.
Sacks’ responsibilities will include leading the President’s Council of Advisers on Science and Technology, a position that will enable him to oversee policy development in AI and emerging technologies.
Trump’s selection of Sacks aligns with his administration’s focus on creating a supportive environment for innovation and technology. By appointing a figure with Sacks’ experience and reputation, the president-elect signals a commitment to balancing regulatory clarity with the need for technological advancement.
As the cryptocurrency and AI sectors continue to grow in significance, Sacks’ dual role reflects the administration’s intent to integrate these transformative technologies into the broader U.S. economy.
The crypto industry, which has long sought regulatory certainty, sees this move as a step toward fostering growth and global competitiveness. For the burgeoning AI sector, Sacks’ leadership is expected to provide a roadmap for ethical development and deployment.
With Sacks at the helm, the Trump administration aims to deliver on its promise to advance the United States’ leadership in both artificial intelligence and cryptocurrency, paving the way for a new era of technological dominance.