- Trump appoints David Sacks as “White House A.I. & Crypto Czar” to revamp crypto policies.
- Bitcoin briefly crossed $100K amid major Trump administration appointments and regulatory shifts.
President Donald Trump has announced a bold shift in U.S. crypto policy with the appointment of former PayPal COO David Sacks as the “White House A.I. & Crypto Czar.”
This marks a significant departure from the restrictive stance adopted by the Biden administration and SEC Chair Gary Gensler, which drew widespread criticism from the crypto community.
For those unaware, Trump had vowed to reshape the regulatory landscape, and had already proposed a larger oversight role for the Commodity Futures Trading Commission (CFTC).
While early speculation hinted at Chris Giancarlo, the former CFTC chair, for the Crypto Czar position, Trump’s shift to Sacks reflects a fresh approach to integrating innovation and regulation.
Without confirming whether “Czar” is an official title, Trump stated in a post on Truth Social,
“I am pleased to announce that David O. Sacks will be the “White House A.I. & Crypto Czar.”
How will David Sacks redefine crypto regulation?
As per Trump, Sacks will oversee policies shaping Artificial Intelligence and Cryptocurrency, both vital for securing America’s leadership on the global stage.
His efforts will aim to establish the U.S. as a frontrunner in innovation while ensuring online free speech remains protected.
Additionally, he will also work to address concerns about bias and censorship stemming from Big Tech, reinforcing a balanced and fair digital ecosystem.
Providing further clarity on Sack’s role, Trump added,
“He will work on a legal framework so the Crypto industry has the clarity it has been asking for, and can thrive in the U.S. David will also lead the Presidential Council of Advisors for Science and Technology…”
Other crucial appointments that will shape the crypto industry for good
Additionally, David Sacks is expected to collaborate closely with tech visionary Elon Musk, who has been tapped to lead the newly formed Department of Government Efficiency (Doge) in Trump’s administration.
In parallel, Trump’s appointment of Paul Atkins, known for advocating relaxed regulations on digital assets, as the new SEC chair signals a shift in the regulatory landscape for cryptocurrencies.
This announcement coincided with Bitcoin [BTC] briefly surging past the $100K milestone, marking a historic moment for the crypto industry.
However, BTC has since retraced, trading at $98,008.57 after a 4.23% drop in the past 24 hours, according to CoinMarketCap, reflecting the ongoing volatility in the market.
