U.S. President-elect Donald Trump has appointed former PayPal COO David Sacks as the “White House AI & Crypto Czar.” The announcement, made on Trump’s social platform Truth Social, underscores his administration’s focus on establishing regulatory clarity for cryptocurrencies and artificial intelligence (AI).

Sacks, a prominent venture capitalist and member of the “PayPal Mafia,” will oversee policies to boost the U.S. crypto industry’s growth while setting guidelines for AI applications in critical sectors.

Pro-Business Approach to Regulation

Known for his hands-on experience with emerging technologies, Sacks is expected to advocate for minimal regulation to spur innovation. Investors in Silicon Valley, including OpenAI CEO Sam Altman, praised the move.
While Sacks may adopt a light regulatory approach, industry leaders anticipate he will focus on ensuring responsible use of AI, particularly in sensitive applications, without stifling model development.

Trump’s Crypto Vision Gains Traction

Trump’s newfound enthusiasm for cryptocurrencies marks a stark contrast to his earlier skepticism. He has pledged to position the U.S. as the “crypto capital of the planet,” with plans to build a national Bitcoin reserve.

The announcement coincided with Bitcoin reaching an all-time high of $100,000, a milestone that reinforces optimism about the future of digital assets under the incoming administration.

Key Appointments and Industry Backing

Sacks will work alongside Paul Atkins, nominated to lead the Securities and Exchange Commission (SEC), and Elon Musk, co-lead of the Department of Government Efficiency (DOGE). These appointments signal a coordinated effort to streamline crypto regulations while encouraging innovation.

Sacks, a long-time advocate for decentralized technologies, described cryptocurrencies as part of a “decentralized web revolution.” Industry experts view his appointment as a significant step towards fostering growth in the U.S. crypto and AI sectors.