- Donald Trump announced that he would be appointing David Sacks as White House AI & Crypto Czar.
- The entrepreneur is believed to hold profound knowledge in both fields as per reports.
While Bitcoin has decided to tease the community with a price dip to the $97K level, the market seems to be entering a weekend slump. On the regulatory end, according to reliable sources, the SEC has stated that it would be rejecting at least two of the five Solana ETF filings. On a positive note, the President-elect, Donald Trump has nominated David Sacks as AI and Crypto Czar.
In the morning hours of December 6, Trump announced on Truth Social, the former COO of the payment giant PayPal for the White House position. He stated that Sacks would efficiently guide policy administration in both AI and crypto realms.
Further, Trump also said David Sacks will work on a regulatory framework, specifically for developing the crypto sector. This has elicited quite a positive reaction from the community. In the recent past, Trump’s several announcements toward crypto regulatory reformation have assured members of amending the current obscurity.
Moreover, David Sacks is one of Trump’s staunch supporters from Silicon Valley. The entrepreneur and venture capitalist has been in the field for nearly 25 years, as Trump himself said. He is expected to untangle the current complexities in the field and to bring in advancements as the White House AI & Crypto Czar.
Why is David Sacks Trump’s Accurate Choice For AI & Crypto Policy?
The PayPal executive, after having stayed in the field for more than two decades, is said to have profound knowledge. Additionally, his being pro-crypto also allows Sacks to hold a progressive view towards regulations.
David Sacks responded to Trump appointing him, thanking him for the trust in his X account. Additionally, Sacks is also said to be closely associated with Vice President Vance as per reports.
Furthermore, recently, Trump also announced the next SEC Chair who would take over Gary Gensler. Paul Atkins, a former commissioner of the SEC was chosen, who also holds a pro-crypto stance. These aspects have been, as aforementioned, reassuring to members of the crypto community.
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