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President-elect Donald Trump announced Thursday that former PayPal Chief Operating Officer David Sacks will serve as White House artificial intelligence (AI) and cryptocurrency czar in his incoming administration.
Sacks, 52, is a San Francisco-based venture capitalist and one of several prominent Silicon Valley players that backed Trump, 78, during his 2024 campaign.
“In this important role, David will guide policy for the Administration in Artificial Intelligence and Cryptocurrency, two areas critical to the future of American competitiveness,” the president-elect said in his announcement on Truth Social.
Trump noted that Sacks will be tasked with making the US “the clear global leader” in crypto and AI and protecting the country from censorship.
“He will safeguard Free Speech online, and steer us away from Big Tech bias and censorship,” the president-elect said. “He will work on a legal framework so the Crypto industry has the clarity it has been asking for, and can thrive in the U.S.”
Sacks will also lead a White House advisory council on science and technology as part of his role.
Trump praised Sacks as “an extremely successful entrepreneur and investor,” noting his early involvement in PayPal, an online payment system, and Yammer, a workplace communication service that was acquired by Microsoft for $1.2 billion.
“David has the knowledge, business experience, intelligence, and pragmatism to MAKE AMERICA GREAT in these two critical technologies,” the 45th president declared.
Sacks publicly endorsed Trump in June, arguing in a lengthy X post that “voters have experienced four years of President Trump and four years of President Biden … with respect to economic policy, foreign policy, border policy, and legal fairness, Trump performed better.”
The venture capitalist subsequently hosted a $12 million fundraiser for Trump at his San Francisco home, and the president-elect later appeared on Sack’s “All In” podcast.
Bitcoin, the world’s most popular cryptocurrency, ballooned to above $100,000 for the first time in its 15 year history Thursday, prior to Trump naming Sack’s as crypto czar, on expectations that the incoming president’s administration will create a friendly regulatory environment for the alternative currency.
On Thursday, Trump also tapped former Sen. David Perdue (R-Ga.) to serve as US Ambassador to China; Rodney S. Scott to serve as commissioner of United States Customs and Border Protection; Caleb Vitello to serve as acting director of Immigration and Customs Enforcement; Brandon Judd to serve as US ambassador to Chile; and Tony Salisbury to serve as deputy homeland security adviser.