YEREVAN (CoinChapter.com) — President-elect Donald Trump has named David Sacks as the White House AI and Crypto Czar. Sacks, a well-known Bitcoin investor and tech entrepreneur, will focus on developing regulatory frameworks for crypto and safeguarding online free speech.
David Sacks: A Tech Pioneer with a Global Background
David Sacks was born in Cape Town, South Africa, and relocated to the U.S. at age five. Raised in Tennessee, his family’s entrepreneurial legacy influenced his career. He earned a degree in economics from Stanford University in 1994 and a Juris Doctor from the University of Chicago Law School in 1998.
In 1999, Sacks joined PayPal as its first product leader. Later, as COO, he helped shape PayPal’s global success in online payments. After eBay acquired PayPal, he launched Yammer, a business social networking platform later acquired by Microsoft.
Craft Ventures: Supporting Tech Growth
Sacks co-founded Craft Ventures in 2017, a venture capital firm managing $3.3 billion in assets as of late 2023. The firm has backed companies such as SpaceX, Uber, and Airbnb. Through Craft Ventures, Sacks has supported innovations in the tech and crypto space, including investments in BitGo, a crypto custody provider, and Multicoin Capital, a crypto hedge fund.
Sacks worked alongside Elon Musk during PayPal’s early days, forming a connection that continues today. Both are members of the PayPal Mafia, a network of entrepreneurs who shaped major tech companies.
Sacks provided financial support for Musk’s $44 billion acquisition of X and acted as an advisor during the transition. This collaboration reflects their shared vision for reshaping online platforms.
Trump’s AI and Crypto Czar: A Longtime Bitcoin Investor
Sacks has been a Bitcoin investor since 2012, viewing it as a secure, decentralized financial system. He has also backed crypto custody services and hedge funds. In a conversation with Anthony Pompliano, Sacks noted the risks of government-controlled currencies, emphasizing Bitcoin’s fixed supply and encryption-based trust.
“There’s a huge risk of currency debasement when governments control money,”
he said.
“Bitcoin offers a different system backed by math and encryption, not government policies.”
A Trump Ally Focused on Policy Clarity
Sacks, a vocal supporter of Trump, has often criticized current economic and foreign policies. Appointed on Dec. 5, he will focus on crypto regulations and AI development, aiming to enhance U.S. competitiveness.
Trump highlighted Sacks’ role in creating clear frameworks for the crypto industry and protecting online free speech as central to his administration’s goals.
Trump Pledges to Make the US a Crypto Hub, Gains Industry Support
Donald Trump has made strong commitments to the crypto sector during his campaign, promising to turn the United States into “the world capital of crypto.” Subsequently, these promises have attracted millions of dollars in backing from prominent industry executives.
To solidify his pro-crypto stance, Trump appointed key figures with similar views to influential roles. On Dec. 4, he also named Paul Atkins, a known crypto advocate, as the chair of the Securities and Exchange Commission (SEC). Industry leaders view this move as a potential step toward reducing the SEC’s enforcement actions against crypto companies.
Additionally, Trump has brought other high-profile supporters into his advisory circle, including Elon Musk.
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