President-elect Donald Trump announced on Thursday that veteran Silicon Valley venture capitalist David Sacks will serve as his White House AI (artificial intelligence) and Crypto Czar.
Trump notes on Truth Social that Sacks will guide administration policy in both areas, which the former president says are “critical to the future of American competitiveness.”
“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 will work on a legal framework so the crypto industry has the clarity it has been asking for, and can thrive in the US.”
Sacks previously served as PayPal’s chief operating officer (COO) and is a high-profile venture capitalist who has invested in Airbnb, Palantir, Postmates, Reddit, Slack, SpaceX, Twitter, Uber and other big-name tech companies.
He’s also sunk capital into crypto projects, including investing $10 million in the decentralized exchange dYdX (DYDX) in 2018 via his growth fund Craft Ventures. The DEX’s native token surged by more than 28% on Thursday and Friday after Trump published the czar announcement.
Sacks endorsed Trump in June and hosted a multimillion-dollar fundraiser for the former president at his house in San Francisco.
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