In a move that signals increased focus on emerging technologies, former President Donald Trump announced the appointment of David Sacks, ex-PayPal Chief Operating Officer, as the White House Artificial Intelligence and Cryptocurrency Czar.
Trump made the announcement Thursday through his Truth Social platform, outlining plans for Sacks to develop regulatory frameworks for the cryptocurrency industry. The appointment aims to provide the clarity that crypto companies have long requested from U.S. regulators.
Sacks, known for his executive role at PayPal during its early days, brings extensive experience in financial technology to the position. His appointment suggests Trump's administration would prioritize creating defined guidelines for both AI development and crypto markets.
The role combines oversight of two rapidly evolving technological sectors - artificial intelligence and cryptocurrency - that have faced regulatory uncertainty in recent years. Industry observers note this dual focus could help shape cohesive policies for these interconnected technologies.
This appointment marks one of Trump's key technology-focused decisions as he prepares for a potential return to office. The selection of a Silicon Valley veteran indicates an effort to bridge the gap between tech innovation and government regulation.
The White House has not yet released specific details about when Sacks will begin his role or the exact scope of his responsibilities in this newly created position.