Trump Appoints David Sachs to Lead White House AI and Cryptocurrency
Date: 2024-12-06 Author: Gabriel Deangelo Categories: IN WORLD
US President-elect Donald Trump has announced the appointment of David Sachs, a partner at Craft Ventures, to lead the White House on AI and cryptocurrency. This move is part of Trump’s push to make the US the global hub for the cryptocurrency industry.
Sachs will be responsible for developing regulations for artificial intelligence and cryptocurrency, as well as developing legislative frameworks for these industries. He will also chair the President’s Council of Advisors on Science and Technology.
“I am pleased to announce that David Sachs will be the White House’s lead for artificial intelligence and cryptocurrency. In this key role, he will guide our policies in these areas, which are critical to America’s future competitiveness,” Trump wrote on his Truth Social platform on December 6.
The new position is intended to strengthen the cryptocurrency industry’s supporters and ensure support for the president’s initiatives. Sachs will also serve as a liaison between the Trump administration, Congress, and government regulators like the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
Sachs, according to Bloomberg, played a major role in helping Trump raise money from tech companies for the campaign. He also has a close relationship with Vice President J.D. Vance.
In his new role, Sachs will work closely with Elon Musk, who leads the Department of Government Efficiency (DOGE). Like Musk, Sachs works for the government as a special employee, which allows him to keep his holdings private and work only 130 days a year.
