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Meet the new “cryptocurrency czar” appointed by Trump
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President-elect Donald Trump named David O. Sacks, former COO of PayPal, as its “czar” for the artificial intelligence and cryptocurrency sectors. This decision marks a significant move in the reshaping of US policy, as Sacks favors greater freedom of action in both sectors.
According to a post by Trump on his social network Truth Social, Sacks will play a key role in preserving freedom of expression online. Furthermore, The new tsar will deal with issues of influence and censorship allegedly made by Big Tech companies.
Sacks is also expected to oversee the President’s Council of Advisors for Science and Technology. With his nomination, Trump conconsolidates a pro-freedom cabinet surrounded by cryptocurrency defendersincluding already nominated Paul Atkins.
“David will focus on making America the clear global leader in both areas. It will protect free speech online and move us away from the big tech companies’ bigotry and censorship. Sacks will work on a legal framework so that the cryptocurrency industry has the clarity it has been asking for and can prosper in the US,” said the president-elect.
Who is David O. Sacks?
David O. Sacks was born in the USA, but has South African ancestry. At 52 years old, Sacks built his fortune entrepreneurship in the technology sector and is a big cryptocurrency enthusiast.
In 2017, Sacks gave an interview to CNBC about Bitcoin (BTC) and said that cryptocurrency was reshaping the internet. The executive even stated that BTC “revived” its interest in payment methods and that cryptocurrencies brought PayPal’s “original vision” to reality.
“After PayPal, I never thought I would be interested in payments again. But Bitcoin is fulfilling PayPal’s original vision of creating “the world’s new currency.” Cryptocurrencies like Bitcoin are fulfilling this original vision and doing it in a decentralized way (with a decentralized database called blockchain), while PayPal tried to do it in a centralized way,” Sacks explained.
In addition to PayPal, the new cryptocurrency czar is also the co-founder of a venture capital firm called ‘Craft Ventures’. Through this company, Sacks has invested in several companies linked to the cryptocurrency sectorincluding dYdX, Lightning Labs, River Financial and Voltage.
Trump’s decision to nominate Sacks suggests the new president is recognizing high-profile entrepreneurs who played a role in supporting his candidacy. In fact, Sacks was a strong supporter of Trump and raised more than $12 million for the president’s campaign.
These indications make the Trump government composed mostly of entrepreneurs and people with technical knowledge. Trump has already named Tesla CEO Elon Musk and entrepreneur Vivek Ramaswamy to lead the newly formed Department of Government Efficiency (DOGE).
Meet the new “cryptocurrency czar” appointed by Trump
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Meet the new “cryptocurrency czar” appointed by Trump
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Meet the new “cryptocurrency czar” appointed by Trump
