Donald Trump has appointed David Sacks as White House cryptocurrency and AI czar

U.S. President-elect Donald Trump announced Thursday the appointment of former PayPal Chief Operating Officer David Sacks as his "White House A.I. & Crypto Czar," marking another step toward reshaping U.S. policy in these innovative sectors.

In a post on his Truth Social platform, Trump stated, "He will work on a legal framework so the Crypto industry has the clarity it has been asking for, and can thrive in the U.S." Trump did not clarify whether "czar" was an official title.

Sacks, alongside key figures in Trump’s incoming administration, such as the chairs of the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC), will lead efforts to redefine U.S. policy on digital currencies. These efforts will include a newly created crypto advisory council.

Minimal Regulation, Strategic Focus

Trump’s tech backers have consistently advocated for minimal regulation in artificial intelligence and cryptocurrencies, arguing that excessive rules could stifle innovation in these rapidly growing industries.

Elad Gil, an investor in companies like Airbnb and Coinbase, praised the choice, calling it a "strong move" in a post on X. OpenAI CEO Sam Altman also congratulated Sacks, writing, "Congrats to czar @DavidSacks!"

Steve Jang, founder of Kindred Ventures and a co-investor with Sacks in cryptocurrency and AI startups, predicted that Sacks will adopt a "light touch" approach to regulation but will establish guardrails for critical applications of AI. Jang noted that Sacks would likely focus on how AI is used, rather than imposing strict regulations on AI model development—a distinction that has divided tech leaders.

Crypto Advocacy in the Administration

Trump’s commitment to the crypto sector was further highlighted Wednesday with his nomination of Paul Atkins, a Washington lawyer and prominent crypto advocate, to lead the SEC. The move was celebrated within the cryptocurrency industry, marking a sharp departure from the outgoing administration's more critical stance.

Once a vocal critic of cryptocurrency—calling it a scam—Trump has embraced digital assets during his campaign, pledging to make the United States the "crypto capital of the planet" and promising to build a national reserve of bitcoin.

The market reacted strongly to the incoming administration’s crypto-friendly stance. Bitcoin surpassed $100,000 for the first time Wednesday night, a milestone celebrated even by skeptics as evidence of digital assets' growing legitimacy. Investors are betting on Trump’s administration to cement cryptocurrencies’ role in global financial markets.