Trump appoints crypto czar David Sacks
Photo: Ricky Carioti/The Washington Post
US President Donald Trump has appointed the first crypto czar in the USA. The 78-year-old chose entrepreneur David Sacks, who is relatively unknown in the crypto industry. He is a Solana supporter who wants more freedom for his homeland and wants to fight technological censorship.
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Trump appoints crypto czar David Sacks
Donald Trump appoints the first crypto czar of the USA. The choice of the new US president falls on David Sacks – a former manager of the payment service PayPal, who today enjoys working with artificial intelligence and cryptocurrencies .
The new office will serve a central role and oversee the creation of favorable regulation for the crypto and AI industry. Trump announced his election yesterday via his social network Truth Social. There he wrote:
“David will lead policy on crypto and AI – two areas important to U.S. competitiveness.”
The Republican’s demands are high. The USA should become the global center of both industries. Over the last few years – during the Biden administration – some well-known companies fled the USA or relocated their business abroad. Trump wants to reverse this development.
“David will focus on making the United States the global leader in both industries. He will protect free speech online and protect us from the control and censorship of Big Tech companies.”
In order to manifest these goals, a crypto law is to be created. Its creation is the most important task of the new office.
What David Sacks can do for crypto
Over the past few weeks, several people have been vying for Trump to appoint him as crypto czar, insiders reported, and it was considered likely that a well-known figure from the crypto industry would take on the role.
Coinbase CEO Brian Armstrong was considered a likely candidate. Even Cardano founder Charles Hoskinson spoke in favor of him. With David Sacks, the president has now chosen a person who is relatively unknown in the crypto scene.
So the question arises: What can David Sacks actually do for crypto? The influential entrepreneur seems to share the beliefs of the crypto scene on important points – this is evident from an interview by Anthony Pompliano that is already two years old today.
“The innovative idea of Bitcoin is that we use money that is not the fiat system. (…) There is an enormous risk of inflation when a government has control [of the currency],” Sacks explained there.
The temptation is particularly great in the USA, as the US dollar is the world’s leading currency. Sacks considers this behavior to be unhealthy. Citizens could face enormous losses. According to this, Sacks is likely to support government use of Bitcoin.
In his private life, the 52-year-old is considered an outspoken Solana supporter. He sees the smart contract platform as a better alternative to niche leader Ethereum.
Sacks may have used his influential personality as a successful entrepreneur to convince Trump to run for office. Originally, a dedicated position as crypto chairman was planned, which the president apparently specifically adapted for Sacks.
On X, the new crypto czar criticizes the increasing lack of freedom in the USA. He says he wants to work for more freedom and less censorship.
“Marc Andreessen explained on the Joe Rogan podcast the dystopian course we have taken with AI. We are now on a different course,” wrote Sacks. Under his leadership, technology should no longer be misused to restrict the lives of undesirable people.
