- Trump Appoints David Sacks as “White House AI and Crypto Czar” to Revamp Crypto Policies.
- Bitcoin briefly topped $100,000 amid major Trump administration appointments and regulatory changes.
President Donald Trump has announced a bold shift in US crypto policy with the appointment of former PayPal COO David Sacks as “White House AI and crypto czar.”
This marks a significant change from the restrictive stance taken by the Biden administration and SEC Chairman Gary Gensler, which has drawn widespread criticism from the crypto community.
For those who don’t know, Trump had pledged to reshape the regulatory landscape and had already proposed a broader oversight role for the Commodity Futures Trading Commission (CFTC).
While early speculation pointed to Chris Giancarlo, the former CFTC chairman, for the Crypto Czar position, the move from Trump to Sacks reflects a new approach to integrating innovation and regulation.
Without confirming whether “Czar” is an official title, Trump said in an article on Truth Social:
“I am pleased to announce that David O. Sacks will be the “White House AI and Crypto Czar.”
How will David Sacks redefine crypto regulation?
According to Trump, Sacks will oversee policies that shape artificial intelligence and cryptocurrency, both critical to ensuring U.S. leadership on the global stage.
His efforts will aim to make the United States a pioneer in innovation while ensuring freedom of expression is protected online.
Additionally, it will also work to address concerns about bias and censorship emanating from Big Tech, thereby strengthening a balanced and equitable digital ecosystem.
Trump added more clarity on Sack’s role:
“He will work on a legal framework so that the crypto industry has the clarity it demands and can thrive in the United States. David will also lead the President’s Council of Advisors on Science and Technology…”
Other Crucial Appointments That Will Definitely Shape the Crypto Industry
Additionally, David Sacks is expected to work closely with tech visionary Elon Musk, who has been tapped to lead the new Department of Government Effectiveness (Doge) in the Trump administration.
At the same time, Trump’s appointment of Paul Atkins, known for advocating relaxed regulation on digital assets, as the new chairman of the SEC, signals a change in the regulatory landscape for cryptocurrencies.
This announcement coincided with Bitcoin (BTC) briefly surpassing the $100,000 mark, marking a historic moment for the crypto industry.
However, BTC has since retraced its price, trading at $98,008.57 after a 4.23% decline over the past 24 hours, according to CoinMarketCap, reflecting the current market volatility.
