Incoming U.S. President Donald Trump has announced the appointment of David Sacks, former Chief Operating Officer of PayPal and a renowned tech entrepreneur, as his special advisor for cryptocurrency and artificial intelligence (AI) regulation. The announcement was made on Truth Social, Trump’s social media platform, where he emphasized the need for a clear regulatory framework to support the growth of the cryptocurrency industry in the United States.
“David Sacks will develop a legal framework to provide the clarity the cryptocurrency industry has been demanding, so it can thrive in the U.S.,” Trump stated, signaling his commitment to bringing technological innovation back to the forefront of American policy.
A Proven Track Record in Innovation and Business Leadership
David Sacks is a well-known figure in the tech industry. As a key member of the PayPal Mafia—a group of entrepreneurs and executives who helped build PayPal and later became influential leaders in other industries—Sacks has been a central player in the startup ecosystem for over 20 years.
After serving as COO at PayPal, where he was instrumental in the company’s success, Sacks co-founded Yammer, an enterprise communication platform acquired by Microsoft in 2012 for $1.2 billion. He later founded Craft Ventures, a venture capital firm that has invested in groundbreaking companies such as SpaceX, Reddit, and ClickUp.
His deep expertise in disruptive technologies and building successful ventures positions him as an ideal candidate to tackle the challenges facing cryptocurrency and AI regulation—two of the most dynamic and debated sectors today.
Sacks’ Vision for Cryptocurrencies and Financial Technology
Sacks has been a vocal advocate for cryptocurrencies and the transformative potential of blockchain technology. In a 2017 interview with CNBC, he explained how cryptocurrencies like Bitcoin and Ethereum align with the “original vision” he and other PayPal founders had: creating a decentralized and efficient digital financial system that minimizes the need for costly intermediaries.
“We wanted to create a database of money where payments would never have to leave the system,” Sacks said. Now, in his new advisory role, he will have the opportunity to bring this vision into the regulatory realm, helping the U.S. regain its leadership in blockchain technology as other countries, like China, advance their own digital currency initiatives.
Although Sacks has not publicly shared detailed opinions about AI, his professional background suggests he may favor a lighter regulatory approach that promotes rapid innovation and adoption. Analysts predict that his policies will reflect the Trump administration’s broader priorities: fostering economic growth through innovation while minimizing government interference that could slow technological progress.
This appointment comes at a pivotal moment for AI, as global debates intensify over how to regulate powerful technologies like large language models and autonomous systems. While the Biden administration focused on ethics and safety in its approach to AI, Sacks is expected to prioritize U.S. competitiveness against global players such as Europe and China.
Trump’s return to the White House marks a significant shift in America’s technological and political landscape. During his first term, Trump championed deregulation across multiple industries, including technology. Sacks’ appointment as “crypto and AI czar” indicates a continuation of this philosophy, aiming to position the U.S. as a global leader in technological innovation.
Critics of deregulation worry that it could lead to ethical or financial risks, but supporters argue that fostering innovation is essential for maintaining competitiveness in critical sectors like blockchain and AI.
With a proven history of creating disruptive businesses and strong ties to Silicon Valley, Sacks is well-equipped to shape America’s technological trajectory under Trump’s leadership.
The Road Ahead for Crypto and AI in the Trump Era
Sacks’ appointment highlights Trump’s strategic focus on emerging, high-tech industries. While the specifics of the regulatory framework for cryptocurrencies and AI remain unclear, it is expected to encourage these industries’ growth in the U.S., reducing the risk of talent and capital fleeing to more favorable markets abroad.
As the world watches how the U.S. navigates its technological future, Sacks’ role as “czar” of these sectors will be pivotal in shaping the country’s direction in the years to come.