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Trump has appointed David Sacks, a prominent conservative figure in Silicon Valley, to oversee the regulation of cryptocurrency and artificial intelligence. Sacks, a successful venture capitalist and podcast host, advocates for less strict regulation of these new technologies.
Written by Theodore Schleifer
For a few years now, Theodore Schleifer has been covering the political involvements of David Sacks in his writing.
President-elect Donald J. Trump has appointed a well-known conservative figure from Silicon Valley to assist in managing American technology policies.
The president-elect revealed on social media that David Sacks, a venture capitalist and former PayPal executive, will be taking on the role of "White House A.I. and Crypto Czar." Sacks, who is known for launching a successful podcast, is a friend of Elon Musk and has been influencing Musk to become more involved in Republican politics in recent times.
This new position solidifies the idea that the Trump administration plans to be less strict when it comes to regulating technology, especially cryptocurrencies. These digital currencies have increased in value since Trump’s election, and Trump himself has a personal interest in them. Mr. Sacks, the leader of Craft Ventures, has advocated for more lenient policies regarding both cryptocurrency and artificial intelligence.
During the Trump transition effort, Mr. Sacks successfully advocated for overseeing both artificial intelligence and crypto in a single joint appointment, instead of having separate positions for each. This decision was made despite others suggesting separate oversight for these areas.
"David has been appointed to lead the Administration’s efforts in Artificial Intelligence and Cryptocurrency, which are crucial for America’s future competitiveness," stated Mr. Trump on Thursday. "David’s main goal will be to ensure that America becomes the top global leader in both of these areas."
According to his firm, Mr. Sacks does not hold a full-time position. He mentioned to friends that he preferred not to have an official role as it would mean he had to step away from managing his venture capital fund. Recently, Mr. Sacks announced a new round of start-up funding that his firm is leading.
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