According to ChainCatcher, Trump appointed David Sacks as the 'AI and Crypto Czar' to lead a new advisory committee, sparking attention. Sacks is a venture capitalist, podcast host, and former PayPal executive.
However, insiders from the transition team revealed that the position was downgraded from a leadership role to a general advisory position last week, partly because Sacks was unwilling to detach from the investment company Craft Ventures and did not want to go through a formal appointment process.
In the future, Michael Kratsios will lead the technology policy work, with Sacks providing policy ideas. Despite the change in position, Sacks remains influential, frequently 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 could benefit startups, while others question his expertise and worry about policy direction.