Donald Trump names David Sacks as cryptocurrency and AI ‘czar’

President-elect Donald Trump has named David O. Sacks, formerly the COO of PayPal, as his artificial intelligence and cryptocurrency “czar.” This decision marks an important step in the reshaping of US politics.

Trump claimed that Sacks would play a key role in preserving free speech online and addressing issues of Big Tech influence and censorship. Sacks will also oversee the President’s Council of Advisors on Science and Technology.

Get away from big tech bias and censorship

In a Dec. 6 post on his social media platform Truth Social, Trump said:

“David will focus on making the United States the clear world leader in both areas. He will safeguard free speech online and move us away from Big Tech bias and censorship. He will work on a legal framework so that the crypto industry has the clarity that he has asked for and can thrive in the United States.”

Under Trump’s leadership, the crypto czar, along with the chairs of the Securities and Exchange Commission (SEC) and Commodities Futures Trading Commission (CFTC), are expected to lead efforts to overhaul digital currency policies, with the support of a newly established advisory board.

Advocates in Trump’s tech base favor minimal government intervention in AI and cryptocurrencies like Bitcoin, arguing that excessive regulations risk stifling innovation in these emerging sectors.

Sacks played a key role at PayPal in its early days and co-founded Yammer, which was later acquired by Microsoft for $1.2 billion in 2012. He has since become known for co-hosting the popular podcast All In .

Who is David O. Sacks?

The 52-year-old South African-American entrepreneur was one of the first to champion cryptocurrencies, claiming in a 2017 CNBC interview that Bitcoin was reshaping the Internet as the world’s largest.

“After PayPal, I never thought I would be interested in payments again. But Bitcoin is fulfilling PayPal’s original vision of creating ‘the new world currency.’ But cryptocurrencies like Bitcoin are now fulfilling that original vision. They are doing in a decentralized way (with a decentralized database called blockchain), whereas PayPal tried to do it in a centralized way.”

He is also the co-founder of a venture capital firm called “Craft Ventures”, which has invested in a number of crypto companies, including dYdX, Lightning Labs, River Financial, Kresus, Set Protocol, FOLD, Harbour, Handshake, Voltage , Galoy, Lumina and Rare Bit.

Trump’s decision to nominate Sacks suggests he is recognizing high-profile entrepreneurs who played a role in supporting his presidential bid. This year, Sacks emerged as a major Trump supporter, organizing a fundraiser that brought in $12 million for the Republican campaign.

In addition to Sacks, Trump had previously appointed Tesla CEO Elon Musk and businessman Vivek Ramaswamy to lead the newly created Department of Government Efficiency (DOGE). The duo was tasked with eliminating bureaucratic inefficiencies, reducing government spending and streamlining regulations. Calling DOGE the modern-day “Manhattan Project,” Trump emphasized that the initiative aligns with his “Save America” ​​agenda to transform the federal government.

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