David Sacks is Trump’s New AI and Crypto Advisor

David Sacks’ Memecoin Jumps by 16,000% after Trump’s Post

David Sacks: Trump’s Pick for AI & Crypto Czar

David O. Sacks will be the new White House A.I. & Crypto czar, says Donald Trump in his today’s post on the social media platform Truth Social. Meanwhile, the memecoin promoted by the PayPal’s former chief operating officer (COO) skyrocketed that had otherwise laid dormant.

The ex-PayPal COO will be the top AI and crypto adviser to Donald Trump, who is about to take the office of the President of the United States. David Sacks will be his chief policy adviser on crypto and artificial intelligence, two of the most critical areas “to the future of American competitiveness.”

David O. Sacks is expected to work on a legal framework to provide the Crypto industry with the much asked-for clarity and to let it thrive in the US. He will also be safeguarding online speech and keep Big Tech bias and censorship on the bay. Trump has also mentioned Sacks’ role of leading the Presidential Council of Advisors for Science and Technology.

David O. Sacks: Background

David Sacks, as mentioned, has been an early executive of the PayPal, the payment giant. He was the co-founder of the business social network platform, Yammer, which was later bought by Microsoft for $1.2 billion in 2012. David is known to have co-hosted the “All In” podcast that focused business and also co-founded Craft Ventures, the venture capital firm.

Reflecting Upon the New Development

With a series of new appointments in the United States, as Donald Trump’s administration is about to begin, David Sacks’ appointment is no surprise.

Furthermore, it does point toward the fact that the president-elect and his team are rewarding those who supported him during the election. While many of them are high-profile business leaders, Sacks is known to have hosted a fundraiser for the then-Republican candidate. Sacks gathered $12 million in funds and has been a major Trump backer.

There are several other big names of pro-crypto backers, who have been given some of the most significant positions. These include Elon Musk, who’s been assigned advisory roles, and Paul Atkins, who has replaced Gary Gensler as the new US SEC chairperson.

While Trump has strongly embraced the crypto industry during his campaign, he also promised to make the nation the world capital for crypto. Consequently, he has garnered millions of dollars from the industry executives in backing.

Memecoin by Sacks

As the news of David Sacks’ appointment surfaced on the internet, a memecoin promoted by him jumped 16,000% high in a few hours. The memecoin had otherwise remained dormant since March most of the time.