US president-elect Donald Trump has appointed venture capitalist and former PayPal executive David Sacks as White House AI & Crypto Czar, a newly created role meant to establish the country as the global leader in both fields. Members of the cryptosphere have gathered to congratulate their new czar, a Trump loyalist from Silicon Valley who has previously expressed enthusiasm for crypto technologies and invested in crypto startups.
That will reportedly involve working closely with the Securities and Exchange Commission and the Commodity Futures Trading Commission , two regulatory agencies that vied for jurisdiction over the crypto industry under the Biden administration. Earlier this week, Trump appointed crypto advocate Paul Atkins as SEC chair; members of the crypto industry contributed to the selection process, sources told WIRED in November.