Newly elected U.S. President Donald Trump has appointed David Sacks as his chief political advisor on artificial intelligence and cryptocurrencies. Trump announced the appointment on December 6 via his Truth Social platform, highlighting Sacks' role in protecting online speech and keeping us from Big Tech bias and censorship. 

Sacks will oversee policies in AI and crypto — two sectors he describes as "critically important to the future of American competitiveness." 

Trump stated:

David will work on a legal framework that gives the crypto industry the clarity it’s been asking for, so it can thrive here in the U.S.

Sacks is also set to lead the Presidential Council of Advisors for Science and Technology, adding another high-profile title to his resume. 

The industry has warmly welcomed Trump’s next coup. Ripple CEO Brad Garlinghouse, Ripple’s Chief Legal Officer Stuart Alderoty, BitwiseInvest CEO Hunter Horsley, and others were quick to send congratulations. 

What do we know about David Sacks?

David Sacks is no stranger to the tech elite. A proud "PayPal Mafia" member — an informal club of Silicon Valley power players including Elon Musk. David founded enterprise software company Yammer, which Microsoft acquired for $1.2 billion.

He later established Craft Ventures, a venture capital firm that supported startups like Facebook, Palantir, Uber, Reddit, SpaceX, and Airbnb. Currently, David co-hosts the All-In Podcast, a leading tech podcast where he and his colleagues discuss economic, political, and social issues.  

In a 2017 interview with CNBC, Sacks mentioned that cryptocurrencies like Bitcoin and Ethereum align with PayPal’s “original vision” of creating a “database of money” where payments never leave the system.  

Disputes with the Future Head of D.O.G.E.  

According to Walter Isaacson’s book ‘Elon Musk’, Musk was removed as PayPal CEO in a “coup” orchestrated by Peter Thiel, Sacks, co-founder Max Levchin, and board member Reid Hoffman. At the time, Sacks was COO and head of product.  

Reportedly, Musk clashed with PayPal board members over the company’s branding and strategy. Later, he admitted to Isaacson:  

At first, I was very angry. I thought about murder. But in the end, I realized it was good they overthrew me. Otherwise, I’d still be grinding away at PayPal.  

Sacks’ views on AI and AI policy development are currently unclear, though his overall political stance leans conservative and deregulatory. This may indicate a more relaxed approach compared to the outgoing Biden administration.

Are Trump's Promises more than just Hot Air?

During his campaign, Donald Trump championed the crypto industry, pledging to make the U.S. the “world capital of cryptocurrencies.” These bold promises earned him millions in support from industry leaders, though many doubted the sincerity of his words, clouded as they were by the uncertainty of his potential victory.  

Now, he is turning his words into action. By appointing crypto advocates like David Sacks, and even Elon Musk, to advisory positions, he’s signaling that his commitment to the sector is more than campaign rhetoric.  

On Thursday, Trump also announced the reinstatement of Paul Atkins, a former SEC commissioner, as head of the regulatory agency, calling him a “proven leader” in bringing “common sense to regulation.”  

The appointment of Sacks further cements Trump’s intent to transform the U.S. into the future crypto capital of the world. 

Trump Nominates Paul Atkins as New SEC Chairman—What We Know About the Guy So Far | HODL FM
Trump picks Paul Atkins as SEC chair—crypto-friendly and…
hodl-post-imageHODL FM: The Wildest Ride in the Crypto MarketEmmanuel Ekokotu
hodl-post-image

Disclaimer: All materials on this site are for informational purposes only. None of the material should be interpreted as investment advice. Please note that despite the nature of much of the material created and hosted on this website, HODL FM is not a financial reference resource and the opinions of authors and other contributors are their own and should not be taken as financial advice. If you require advice of this sort, HODL FM strongly recommends contacting a qualified industry professional.