According to ChainCatcher, Trump appointed David Sacks as the 'AI and Crypto Czar' to lead a new advisory council, sparking interest. Sacks is a venture capitalist, podcaster, and former PayPal executive.
However, insiders from the transition team revealed that last week the position was downgraded from a leadership role to a general advisory position, partly because Sacks was unwilling to detach from the investment firm Craft Ventures and did not want to go through a formal appointment process.
In the future, Michael Kratsios will lead technology policy work, with Sacks providing policy ideas. Despite the change in position, Sacks remains influential, often active in Florida and San Francisco, and meeting with lawmakers. His appointment has raised concerns about conflicts of interest, but some in Silicon Valley are optimistic, believing it may support startups, although there are also doubts about his expertise and concerns about policy direction.