In recent days, Donald Trump has made a series of appointments. After choosing who would succeed Gary Gensler as chairman of the Securities and Exchange Commission, the next president of the United States has finally chosen his head of cryptocurrencies and AI at the White House.
A close friend of Elon Musk and JD Vance as head of cryptocurrencies and AI
This Thursday, Donald Trump officially announced that he was nominating businessman David Sacks inasmuch as head of artificial intelligence (AI) and cryptocurrencies at the White House, a newly created position.
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It is by publishing a message on Truth Socialthe social network he owns, that the man who will be inaugurated as the 47th President of the United States next January has announced his decision:
I am pleased to announce that David O. Sacks will be the “czar” of crypto and AI within the White House. David [Sacks] will guide the Administration's policy in the areas of artificial intelligence and cryptocurrencies, 2 essential areas for the future of American competitiveness. David [Sacks] will strive to make America the undisputed world leader in these 2 sectors.
David Sacks is notably known for having been the chief operating officer of PayPal. It was during this period that he met billionaire Elon Muskwith whom he established very close ties. Following this experience, the businessman bought various entities including Yammera publisher of business communications software ultimately acquired by Microsoft in 2012.
Since 2017, he has been the head of the venture capital fund Craft Ventures which he himself created. This venture capital company, very active within Silicon Valley, has in recent years injected part of its money into companies belonging to Elon Musk including Space X.
David Sacks played a role in fundraising for Donald Trump's campaignnotably by organizing an event at his home in San Francisco last June where the entry ticket cost no less than $300,000. He is also close to Donald Trump's running mate and future vice president of the United States J.D. Vance.
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David Sacks to support Donald Trump in implementing his technology policy
As Head of AI and Cryptocurrencies, David Sacks “will work to the development of a legal framework so that the cryptocurrency industry benefits from the clarity it demands and can thrive in the United States.”
According to Donald Trump, the businessman will also have the heavy task of “ protect freedom of expression online and end bias and censorship around technology “.
Also, David Sacks will be the intermediary between Donald Trump, the United States Congress and the federal agencies that regulate the cryptocurrency market including the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC). The latter will be chaired by Paul Atkins from January 20.
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The new head of AI and cryptocurrencies will be in direct contact with industry playersthe latter now having a privileged contact to resolve their problems.
Finally, David Sacks will chair the Presidential Committee of Advisors on Science and Technologythe entity advising the President of the United States on the policy to be pursued around issues related to new technologies.
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Source: Bloomberg
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Surprised by the rise of crypto-assets at the end of the 2010s, I began to closely follow this sector which fascinates me to the greatest extent. When I'm not in football stadiums, rugby stadiums or handball halls, I work on writing relevant articles around cryptocurrencies and more broadly, Web3.
Zacharie Tazrout
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