U.S. President-elect Trump previously announced the establishment of the White House AI cryptocurrency czar position, specifically responsible for AI and cryptocurrency-related policies and coordinating federal policies and government applications in emerging technology fields. On December 5, Trump announced through his own social platform Truth Social that this important task would be entrusted to the well-known venture capitalist David Sacks, who was once a member of the 'PayPal Silicon Valley gang.'
David Sacks appointed as the first White House AI cryptocurrency czar
Trump stated in a post: 'Sacks will formulate AI and cryptocurrency-related policies for this administration, which are key areas to ensure the future competitiveness of the United States.' Trump emphasized that the U.S. needs to maintain its world leadership position in these two fields, and Sacks will be an important driver for achieving this goal.
In addition to serving as the White House AI cryptocurrency czar, Sacks will also lead the 'Presidential Council of Advisors for Science and Technology,' which shows the importance Trump's team places on the development of emerging technologies.
Trump announced the candidate for czar on his own social platform, with a Silicon Valley supporter being reused; Sacks has a deep background.
Sacks was previously a key player in Trump's fundraising events in Silicon Valley and has a deep cooperative relationship with Vice President-elect Vance (J.D. Vance). Sacks was a member of the 'PayPal Silicon Valley gang,' one of Silicon Valley's well-known venture capitalists, and his venture capital firm Craft Ventures has previously invested in well-known companies such as Airbnb, SpaceX, and Coinbase. Moreover, Sacks is not only a long-term supporter of Trump but also held a fundraising event in San Francisco last June to help Trump attract funding from the tech community.
Promoting the transparency of cryptocurrency policy, Trump reverses his stance from the first term.
During his campaign, Trump repeatedly expressed support for cryptocurrencies, emphasizing the need for clear regulatory standards to promote industry development. This contradicts his previous criticism of cryptocurrencies as 'unstable and illusory' during his first term.
One of the key points of Sacks' appointment is to assist in formulating a 'clear legal framework' so that the cryptocurrency industry can be 'more competitive' in the United States. In the future, Sacks will communicate and coordinate between the White House, Congress, and relevant regulatory agencies to promote policy coordination, including cooperation with the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
Collaborating with Musk as a special government employee but needs to avoid conflicts of interest.
Sacks may collaborate with Musk to jointly promote innovation and application of AI technology. Musk, a major supporter of Trump, has his own AI company xAI and the chatbot Grok, which currently holds a place in the AI industry competition. Members of Trump's cabinet believe that Musk's innovative technologies in the AI field will complement Sacks' policy planning, paving the way for AI development in the U.S.
Like Musk, Sacks will enter Trump's team as a 'special government employee,' serving up to 130 days a year without having to declare or sell personal assets, but must avoid conflict of interest in matters related to his own interests.
Sacks expressed optimism about the 0x protocol, surging 34% in a short time.
Previously, Sacks expressed his optimism about the 0x protocol ($ZRX) on Twitter in 2018. He pointed out that as the number of tokens approaches infinity, relying solely on centralized exchanges can no longer meet the demand for finding counterparties, which requires dedicated protocols to solve this problem.
Sacks expressed support for the 0x protocol in 2018.
As the founder of OpenAI, Sam Altman also congratulated Sacks on Twitter upon learning of this news.
The picture is Sam Altman's Twitter
Just as he was appointed by Trump as the White House AI cryptocurrency czar, the previously supported 0x protocol token ($ZRX) also surged 34% in a short period.
0x protocol token ZRX price suddenly surged by 34%
This article on Trump's appointment of Silicon Valley venture capital giant Sacks as the White House AI cryptocurrency czar, with hopes of collaborating with Musk, first appeared in Chain News ABMedia.
