Trump Appoints David Sacks as White House A.I. & Crypto Czar

Donald Trump announces David Sacks as 'White House A.I. & Crypto Czar' as part of a wider effort to reshape U.S. policy on artificial intelligence and cryptocurrencies. Sacks, former PayPal COO, is expected to bring clarity and minimal regulation to the sector alongside other key appointees.

Donald Trump, U.S. President-elect, has named former PayPal Chief Operating Officer David Sacks as the 'White House A.I. & Crypto Czar.' This move is part of Trump's comprehensive plan to revamp American regulations, focusing particularly on artificial intelligence and cryptocurrencies. The appointment was announced on Truth Social, Trump's social-media platform.

Sacks' role will focus on establishing a legal framework that grants clarity to the crypto industry, fulfilling a long-standing demand for regulatory certainty. As a member of Trump's incoming administration, Sacks will join other key figures expected to redefine U.S. policy, including the Securities and Exchange Commission's new leader, Paul Atkins, a noted crypto advocate.

The appointment of Sacks is widely seen as a positive step for digital assets, with Bitcoin reaching an all-time high following the announcement. Born in South Africa, Sacks has a rich history in the tech and digital finance sectors, co-founding Craft Ventures and being a part of the 'PayPal Mafia,' alongside industry heavyweights like Peter Thiel and Elon Musk.

(With inputs from agencies.)