Donald Trump has appointed former PayPal executive David Sacks as the new AI and crypto czar. In a social media post, the president-elect stated that Sacks would play a key role in positioning the US as a global leader in these two areas.
He also pledged to offer the necessary clarity and support to the crypto industry that it has been requesting for. This is a major shift from Trump’s previous stance, where he denounced cryptocurrencies as a scam.
However, during his election campaign, he seemed to have a change of heart and embraced the digital asset sector. Since his victory, there has been a surge in the value of Bitcoin, with it reaching an all-time high of $100,000.
Sacks, who has had a successful career as the COO of PayPal and the founder of Yammer, has been a strong proponent of cryptocurrencies. In a 2017 interview, he predicted that Bitcoin would bring about a revolutionary change in the internet.
