The first 'AI cryptocurrency czar' appointed by U.S. President-elect Trump, David Sacks, refuted false reports by the renowned old media Fortune on 12/21, stating that he would actively engage in promoting policies related to AI and cryptocurrency. He emphasized that he would allocate his time between the White House and Silicon Valley to ensure a balance between policy-making and technological innovation.
Fortune claims a demotion in role, Sacks directly responds: nonsense.
According to Fortune, Sacks's role has been 'demoted' from head to advisory and attributed the demotion to Sacks's failure to relinquish his involvement in his own venture capital firm, Craft Ventures. Fortune further stated that there were concerns within the Trump administration regarding Sacks's lack of avoidance of conflicts of interest. However, Sacks tweeted on 12/21 directly attacking Fortune for 'nonsense.'
He stated: 'Some old media are reporting that my position will change, which is complete nonsense. I will be spending half of my time on White House policy-making, and the other half will be in Silicon Valley keeping up with the latest technological trends. This arrangement is just right for the role of tech policy and is exactly what I asked for.'
David Sacks slams Fortune on Twitter for 'nonsense' about why David Sacks was chosen; Trump’s cryptocurrency strategy sparks heated discussion.
Since Trump's election, he promised to ease regulatory policies on cryptocurrencies, and the entire market is filled with expectations for the future of the U.S. cryptocurrency industry. Sacks, once a member of the 'PayPal Mafia' and one of Silicon Valley's prominent venture capitalists, has declared himself a long-time supporter of Trump and hosted a fundraising event in San Francisco last June to rally funds for Trump, helping him gain attention in the tech sector.
After Sacks was appointed by Trump as the White House AI cryptocurrency czar, it sparked a wave of enthusiastic discussion, with industry figures like MicroStrategy founder Michael Saylor and cryptocurrency-friendly senator Cynthia Lummis holding significant expectations for Sacks, believing that his involvement would propel the U.S. to a leading position in global tech finance innovation.
(Trump appoints Silicon Valley venture capital giant David Sacks as White House AI cryptocurrency czar, expected to collaborate with Musk.)
This article features AI cryptocurrency czar David Sacks refuting (Fortune) false reports: saying that I would be demoted is pure nonsense. Originally appeared in Chain News ABMedia.