President Trump Appoints Cryptocurrency and AI Advisor

Former PayPal CEO David Sacks will join President-elect Donald Trump’s cabinet as “White House AI and cryptocurrency advisor.”

Venture capitalist David Sacks is the next person to join the Trump 2.0 cabinet. President-elect Donald Trump announced his selection as “White House AI and Cryptocurrency Advisor” on the social network Truth Social.

David Sack Bloomberg — David Sack will advise the White House on cryptocurrencies and artificial intelligence. Photo: Bloomberg

Sacks will provide policy guidance on artificial intelligence and cryptocurrencies to the government. Some of his duties include establishing a legal framework for cryptocurrencies as well as leading a council advising the president on science and technology.

“David will focus on making America a global leader in both,” Trump wrote. “He will defend free speech online and protect us from Big Tech bias and censorship.”

CNBC said the appointment shows that the Trump 2.0 administration is favoring Silicon Valley figures who supported his campaign. It signals that the administration will push for policies that crypto entrepreneurs want.

Earlier this year, Mr. Sacks hosted a fundraiser for Mr. Trump at his San Francisco mansion. Tickets were priced at $50,000, with a $300,000 price tag that included perks like a photo with Mr. Trump.

Previously, he was the one who harshly criticized former President Trump after the Capitol riot on January 6, 2021.

Sacks is a well-known venture capitalist and entrepreneur. He sold the enterprise social network Yammer to Microsoft for $1.2 billion in 2012. He is also the former CEO of payment intermediary service PayPal.

In recent years, he has been running a podcast focused on AI with other colleagues. In his post, Mr. Trump calls it “the premier podcast on technology, where he and his friends discuss economic, political , and social issues.”

(According to CNBC)