David Sacks Named AI and Crypto Czar in Trump Administration

The former PayPal executive and venture capitalist will oversee deregulation efforts in Silicon Valley's AI and cryptocurrency sectors.

David Sacks, a member of the 'PayPal Mafia' and prominent venture capitalist, has been appointed as AI and cryptocurrency czar by President-elect Donald Trump.
Sacks' role is expected to focus on deregulating the tech industry, particularly in the fields of artificial intelligence and cryptocurrency, aligning with Trump's campaign promises.
The appointment has sparked optimism in financial markets, with Bitcoin surpassing $100,000 and tech stocks like Tesla, Nvidia, and Palantir showing strong growth.
Sacks will serve as a liaison between the White House, private sector, and regulatory bodies, but his position does not require Senate confirmation or asset disclosure.
This move reflects Trump's broader strategy of integrating Silicon Valley leaders into his administration, signaling a hands-off regulatory approach for the tech industry.