Venture capitalist and All-In podcast co-host David Sacks has been appointed by President-elect Donald Trump as the “White House AI and Crypto Czar.” A prominent figure in the tech and business world, Sacks will play a key role in shaping policies for artificial intelligence and cryptocurrency under Trump’s administration.
Sacks’ role and responsibilities
Sacks will focus on advancing America’s leadership in artificial intelligence and cryptocurrency in his new position. According to Trump, the goal is to ensure the U.S. remains competitive globally in these rapidly evolving fields. Sacks will also work to safeguard free speech online, address concerns about Big Tech bias and censorship, and develop a clear legal framework for the cryptocurrency industry. This framework is intended to provide the clarity that the crypto sector has been demanding to foster growth within the U.S.
Additionally, Sacks will lead the Presidential Council of Advisors for Science and Technology. This advisory body, which already exists, will play a central role in guiding the administration on key technological and scientific developments.
Trump praised Sacks’ extensive tech background, which includes his role at PayPal alongside fellow “PayPal Mafia” member Elon Musk. Sacks also founded Yammer, a business communication tool acquired by Microsoft for US$1.2 billion in 2012. His experience and connections in the tech industry make him a significant figure in Trump’s AI and cryptocurrency policy plans.
A key figure in Trump’s tech circle
Sacks’ appointment follows the earlier announcement that Elon Musk would co-lead the “Department of Government Efficiency.” Like Musk, Sacks will serve as an exceptional government employee, allowing him to work up to 130 days a year without divesting or publicly disclosing his assets.
Sacks has been a vocal supporter of Musk and has actively contributed to his ventures. He is an investor in SpaceX and was instrumental in Musk’s acquisition of Twitter. His VC firm, Craft Ventures, has funded various tech companies, including Palantir and the AI startup Glean.
A long-standing supporter of Trump, Sacks hosted a high-profile fundraiser at his San Francisco mansion during Trump’s campaign, charging US$300,000 per guest. He also spoke at the 2024 Republican National Convention and Mar-a-Lago on Election Day.
Industry leaders react
congrats to czar @DavidSacks!
— Sam Altman (@sama) December 6, 2024
The tech community has enthusiastically welcomed Sacks’ appointment. Leaders from the AI and crypto sectors, including OpenAI CEO Sam Altman and Coinbase COO Emilie Choi, shared their support online. Choi called Sacks “a great pick” and commended his deep understanding of cryptocurrency, adding, “Time to build in the US!”
Great pick. @DavidSacks was in crypto early and has a nuanced understanding of the space. Time to build in the US! 🇺🇸 https://t.co/vdqsF66O3i
— Emilie Choi 🛡️ (@emiliemc) December 6, 2024
Sacks’ extensive connections and experience position him as pivotal in driving Trump’s vision for technological innovation. His leadership is expected to significantly impact AI and crypto policies, shaping the future of these industries in America.