President-elect Donald Trump has appointed David Sacks as the White House's AI and Crypto Czar, announcing the decision in a post on TruthSocial. Sacks will guide policies in artificial intelligence and cryptocurrency, aiming to establish the U.S. as a global leader in these fields. He is a limited partner at MultiCoin Capital and co-founder of Craft Ventures, which has invested in companies like BitGo and Bitwise.
Following the announcement, the dYdX token surged over 30%, reflecting Sacks' influence as an early investor in the decentralized exchange. Trump emphasized that Sacks will also focus on protecting free speech online and developing a legal framework to provide clarity for the cryptocurrency industry.
Sacks, a former COO of PayPal and a member of the "PayPal Mafia," joins the administration as Trump also named former SEC Commissioner Paul Atkins to lead the securities regulator. Atkins is involved with The Digital Chamber, an industry lobbying group.
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