US President-elect Donald Trump has announced a new position in his administration – a “czar” for artificial intelligence (AI) and cryptocurrency. For this post he proposed former PayPal chief operating officer David Sacks.
Trump explained on his Truth Social network:
“He [Sacks] will work to create a legal framework so that the crypto industry gets transparency and can thrive in the United States.”
Sacks, 52, was born in South Africa. He is the co-founder of venture capital firm Craft Ventures and one of the first executives of PayPal. The businessman is considered a member of the “PayPal mafia,” an informal association of former employees and founders of the digital asset company, along with Trump supporters Peter Thiel and Elon Musk. Sacks was one of the first “preachers” of cryptocurrency.
The Republican, who considered cryptocurrency a fraud, used digital assets during his campaign and promised to make the US the “crypto capital of the planet” and amass a national stockpile of bitcoins, the agency notes.
Earlier, Trump chose Paul Atkins to head the SEC (the main US exchange regulator) – also a supporter of cryptocurrency. After that, the price of Bitcoin for the first time in history exceeded the $100 thousand mark.
In November, the future American leader appointed Elon Musk and businessman Vivek Ramaswamy to head the new Department of Government Efficiency. The abbreviation of the new structure DOGE coincides with the name of the cryptocurrency Dogecoin, which Musk promotes. The department will deal with improving the efficiency of the authorities.
