Lead policy development! Trump appoints PayPal veteran David Sacks as "AI and encryption czar"

US President Trump announced today that he has appointed former PayPal COO David Sacks as the 'White House A.I. & Crypto Czar', responsible for promoting policy development in the AI and cryptocurrency industries, laying the foundation for US technological innovation.

Trump posted on the social platform Truth Social, stating that David Sacks "will be committed to developing a legal framework to meet the long-standing demand for regulatory clarity in the cryptocurrency industry, driving the industry to thrive and develop in the United States". 01928374656574839201

Who is David Sacks?

David Sacks, as the founding COO of PayPal, was a key figure in driving the early development of the financial technology industry and was also a member of the famous 'PayPal Mafia' in Silicon Valley. He later founded the enterprise software platform Yammer, which was sold to Microsoft for 1.2 billion dollars in 2012.

"AI and encryption czar" is a newly established position by Trump, dedicated to the policy advisory role in these two emerging technologies.

Trump emphasized in his statement that the appointment of David Sacks is crucial to the future competitiveness of the United States. He said:

I am pleased to announce that David Sacks will serve as the 'White House AI and encryption czar'. In this important role, David will guide the direction of policy making for AI and Crypto Assets, both of which are crucial to America's future competitiveness.

David's primary goal is to make the United States the global leader in these two areas.

This appointment follows closely on the heels of Trump's recent selection of Crypto-friendly Paul Atkins to serve as chairman of the U.S. Securities and Exchange Commission (SEC), who will officially assume office in January next year, replacing Gary Gensler, who announced his resignation last month.

<Leading policy development! Trump appoints PayPal veteran David Sacks as 'AI and encryption czar'> This article was first published in 'Block Times'.