President-elect Trump appoints former PayPal COO David Sachs as 'White House AI and crypto czar'



US President-elect Donald Trump has announced that he has appointed David Sachs, a former PayPal businessman known as the 'PayPal Mafia,' as the 'White House AI & Crypto Czar .'



According to Trump, the 'White House AI and Crypto Czar' will be responsible for policy guidance to make America a global leader in AI and cryptocurrency. Trump explained Sachs' role as 'He will protect online freedom of speech and keep Big Tech's bias and censorship away from the public. Sachs also provides the clarity the cryptocurrency industry has been looking for and will work to establish a legal framework to help America prosper.' It was also announced that Sachs will lead the President's Council of Advisors on Science and Technology (PCAST).

Sachs was born in Cape Town, South Africa, and moved to Tennessee at the age of 5. He earned a bachelor's degree in economics from Stanford University in 1994 and a juris doctorate from the University of Chicago Law School in 1998. He later served as COO of the payment service PayPal and CEO of the enterprise social networking site Yammer.

On June 7, 2024, Sachs posted a lengthy post expressing his support for Trump. In the post, Sachs compared Trump and President Joe Biden's 'economic policy,' 'foreign policy,' 'immigration policy,' and 'legal fairness,' and explained why he supports Trump.




Sachs criticized Biden's economic policies, saying, 'He implemented unnecessary stimulus measures to combat the COVID-19 pandemic, which caused inflation,' and 'Biden's inflationary policies have caused the average American to lose a fifth of their purchasing power over the past few years.' He also said about foreign policy, 'He unnecessarily worsened relations with Saudi Arabia and withdrew U.S. troops from Afghanistan in chaos,' 'He pushed Ukraine to join NATO before there was a consensus among NATO member states, provoking Russia,' and 'Biden rejected a diplomatic solution between Ukraine and Russia.'

Sachs, who is himself an immigrant, also pointed out, 'America has a history of strengthening its national power by accepting talented people from other countries. Strengthening the nation through immigration requires a legal immigration process that emphasizes skills and the principles of American citizenship. The Trump administration favored this type of process. 'He also said, 'Biden's immigration policy is essentially an open border policy. Illegal border crossings have skyrocketed, causing chaos and danger at the southern border.'

Sachs also pointed out that 'Biden pushed for the prosecution of Trump after taking office,' and 'the Biden administration is covering up corruption allegations against Biden's son, Hunter Biden ,' and argued that Trump is more suitable to be president than Biden in terms of 'economic policy,' 'foreign policy,' 'immigration policy,' and 'legal fairness.'

Elon Musk, a Trump supporter and the head of the Department of Government Efficiency (DOGE) , commented on Sachs' post, calling it 'thoughtful.'




Trump has been expressing his support for virtual currencies since his election campaign, and on December 5, 2024, he announced that he had appointed Paul Atkins, a proponent of virtual currencies, as chairman of the Securities and Exchange Commission (SEC). This led to a rise in the price of Bitcoin, surpassing $100,000 (approximately 15 million yen) for the first time.

President-elect Trump nominates cryptocurrency advocate Paul Atkins as next SEC chairman, Bitcoin surpasses $100,000 mark for first time - GIGAZINE



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