David Sacks, the first 'AI cryptocurrency czar' appointed by U.S. President-elect Trump, refuted false reports from the well-known old media outlet Fortune on 12/21. Sacks stated he will actively promote policies related to AI and cryptocurrencies. He emphasized that he will allocate his time between the White House and Silicon Valley to ensure a balance between policy-making and technological innovation.
Fortune claims a demotion, Sacks directly responds: 'Nonsense.'
According to Fortune, Sacks' role has been 'demoted' from head to advisor, attributing the demotion to Sacks' refusal to give up his involvement in his own venture capital firm, Craft Ventures. Fortune further stated that there are concerns within the Trump administration regarding Sacks' lack of caution. However, on 12/21, Sacks tweeted, directly firing back at Fortune, calling them 'nonsense.'
He stated: 'Some old media outlets are reporting that my position will change, which is complete nonsense. I will spend half of my time on White House policy-making and the other half in Silicon Valley to keep abreast of the latest technological trends. This arrangement is just right for the role of technology policy and is exactly what I have requested.'
David Sacks criticizes Fortune on Twitter for saying he's being demoted: 'Nonsense.' Why choose David Sacks? Trump's cryptocurrency strategy sparks heated debate.
Since Trump's election, which promised to relax cryptocurrency regulatory policies, the entire market has been 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 longtime supporter of Trump and held a fundraising event in San Francisco last June to rally funds for Trump, helping him gain attention in the tech circle.
After Sacks was appointed by Trump as the White House AI cryptocurrency czar, it sparked a wave of enthusiastic discussion. Industry figures like MicroStrategy founder Michael Saylor and cryptocurrency-friendly congresswoman Cynthia Lummis have high expectations of Sacks, believing his involvement will help the U.S. maintain a leading position in global technological financial innovation.
(Trump appoints Silicon Valley venture capital giant David Sacks as White House AI cryptocurrency czar, expected to collaborate with Musk.)
In this article, AI cryptocurrency czar David Sacks refutes Fortune's false reports: 'Saying that I will be demoted is complete nonsense.' Originally appeared in Chain News ABMedia.