US 'crypto czar' nominee Sachs to transition from leader to general advisor

David O. Sacks, U.S. President-elect Donald Trump's nominee for crypto czar, is planning to serve as a general advisor instead of a leader, according to China's leading local blockchain publication Wuxuo Blockchain, citing Fortune. This is because Sacks did not want to leave his venture capital (VC) firm, Craft Ventures, and go through the formal process for the position. As a result, the tech policy work that was originally Sacks' responsibility will be led by Michael Kratsios, former chief technology officer in the first Trump administration, with Sacks providing policy ideas.