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President Donald Trump announced on Thursday the selection of David Sacks to lead artificial intelligence (AI) and cryptocurrency for the White House.
Trump shared the announcement in two posts to his Truth Social account that outlined the background of the new tech leader.
“I am pleased to announce that David O. Sacks will be the “White House A.I. & Crypto Czar.” In this important role, David will guide policy for the Administration in Artificial Intelligence and Cryptocurrency, two areas critical to the future of American competitiveness,” Trump began.
“David will focus on making America the clear global leader in both areas. He will safeguard Free Speech online, and steer us away from Big Tech bias and censorship,” he continued.
Trump’s statement also emphasized plans to develop legal policies related to cryptocurrencies.
“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. David will also lead the Presidential Council of Advisors for Science and Technology,” Trump wrote.
Trump also highlighted Sacks’ background, including his role in the early leadership of PayPal.
“David Sacks has been an extremely successful entrepreneur and investor for 25 years, building and investing in some of the most iconic companies in Silicon Valley. He was PayPal’s founding-era COO, part of the legendary ‘PayPal Mafia.’ David then founded enterprise software company, Yammer, which was acquired by Microsoft for $1.2 Billion Dollars. Subsequently he founded Craft Ventures, a venture capital firm based in San Francisco. David is co-host of the All-In Podcast, the top podcast in Tech, where he and his friends discuss economic, political and social issues,” he noted.
“David has the knowledge, business experience, intelligence, and pragmatism to MAKE AMERICA GREAT in these two critical technologies. Congratulations, David!” Trump concluded.
The news came after Trump celebrated Bitcoin reaching $100,000 on Thursday, claiming he will work with the cryptocurrency industry to improve America. Trump shared the news in a post on his Truth Social account on Thursday morning.
“CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU’RE WELCOME!!! Together, we will Make America Great Again!” he wrote.
Bitcoin surged above $100,000 for the first time early Thursday, driven by optimism that Trump’s election victory will lead to a favorable regulatory environment for cryptocurrencies.
The cryptocurrency has more than doubled in value this year, rising approximately 45 percent in the four weeks following Trump’s decisive election victory, which also saw several pro-crypto lawmakers elected to Congress.
