Donald Trump, President-elect of the United States, announced the appointment of David O. Sacks, former COO of PayPal and renowned podcaster, as Chief Policy Advisor for Artificial Intelligence (AI) and Crypto at the White House.
In a post on Truth Social on Friday (6/12), Trump stated that Sacks would assume the role of “White House AI & Crypto Czar,” with Trump emphasizing that these two sectors are important pillars for maintaining America’s global competitiveness. Sacks will be tasked with crafting a legal framework that provides clarity for the crypto industry, allowing this ecosystem to thrive on American soil.
“He will work on a legal framework so that the crypto industry has the clarity it has been asking for and can thrive in the US,” Trump wrote.
Additionally, Sacks will also chair the President’s Advisory Council on Science and Technology.
The appointment comes after reports in November suggested that Trump’s team was considering creating a crypto-only position in the White House. This position aims to establish direct communication between the White House and federal regulators such as the US Securities and Exchange Commission (SEC) and the US Commodity Futures Trading Commission (CFTC). This is expected to encourage the development of clearer and friendlier regulations for digital assets.
Who is David O. Sacks?
David O. Sacks is known as a successful South African-American entrepreneur, investor and author. His career took off when he became a top PayPal official and founded Yammer, a business social networking platform which was acquired by Microsoft for US$1.2 billion in 2012.
Currently, Sacks hosts the podcast “All In,” which discusses a variety of technology, business and political topics. On his show, Sacks often shares views with technology figures such as Chamath Palihapitiya and Jason Calacanis. He also has a close relationship with Tesla CEO Elon Musk, and is known to have been involved in supporting Musk’s acquisition of Twitter.
Sacks has played a key role in bridging the relationship between the tech community and the Trump campaign. Sacks’ support of Trump was publicly announced in June 2024, citing economic policy, foreign approach, and border control as major factors.
At that time, Sacks co-hosted an exclusive fundraising event at his San Francisco residence with tickets worth US$300,000 per person, which raised more than US$12 million for the Trump campaign.
The Trump Administration is Flooded with Pro-Crypto Figures
Sacks’ appointment this time further reflects a significant change in Trump’s attitude towards digital assets, who previously called Bitcoin an unstable asset.
But since the May 2024 campaign, Trump has embraced supportive crypto policies, including promising friendlier regulations and legal clarity for the industry.
In his campaign at that time, Trump promised to be a crypto-friendly President and targeted the US as the “crypto capital of the world,” a move that received great support from industry players there.
Apart from Sacks, Trump has also appointed several pro-crypto advocates into his administration, such as Musk who will lead the initiation of the Department of Government Efficiency (D.O.G.E) together with US businessman Vivek Ramaswamy. This initiative aims to increase the efficiency of its government by reducing excessive regulations and cutting unnecessary spending.
On December 5, Trump also announced that he would bring back Paul Atkins, former SEC commissioner, as Chairman of the securities regulator to replace Gary Gensler, citing Atkins as a proven leader in launching “common sense regulation.”
Trump’s announcement at that time helped push Bitcoin prices to touch a record high above US$100,000 for the first time in history.
