Trump Taps Crypto Advocate David Sacks to Head AI and Crypto Policy
President-elect Donald Trump has appointed David Sacks to oversee policy for both artificial intelligence (AI) and cryptocurrency. This may come as a surprise to some. While Sacks has limited direct experience in either sector, he is well-known as a tech-savvy venture capitalist with a strong stance against government regulations.
Sacks, a prominent fundraiser for Trump and a member of the famed “PayPal Mafia,” is the founder of Craft Ventures. He has voiced strong opposition to regulations that he believes hinder private companies. His perspective aligns with many in the AI and cryptocurrency industries, where leaders are concerned about over-regulation potentially stifling innovation in these emerging sectors.
Sacks’s investment history includes backing Elon Musk’s xAI along with cryptocurrency companies like BitGo and Bitwise. Despite this background, the appointment’s potential benefits lie in Sacks’s minimal-government-interference philosophy, which resonates with the needs of the AI and crypto industries. The tech industry is hoping for clarity and shielding from what they view as regulatory overreach.
“The value of Sacks’ appointment lies in his firm belief in minimal government interference,” according to Bloomberg.
The incoming Trump administration plans to implement lighter regulations on these technologies. This contrasts with the Biden administration’s 2023 AI executive order, which mandates safety testing for new AI models.
Advocates believe this appointment will benefit both industries, especially given the current regulatory landscape. Many in the industry view Sacks as someone who can bring clarity and protect startup interests, particularly in light of recent U.S. government actions against cryptocurrency companies.
