Ex-PayPal COO David Sacks is Trump’s new crypto and AI ‘czar’

Date:

Share post:


Incoming President Donald Trump has a new crypto and AI “czar”: ex-PayPal COO David Sacks.

Trump announced Sacks’ appointment Thursday in a post on Truth Social, Trump’s social networking platform. “[Sacks] will work on a legal framework so the Crypto [sic] industry has the clarity it has been asking for, and can thrive in the US,” he wrote.

Sacks, a member of the so-called “PayPal Mafia,” is a co-founder of Yammer, the internal communications tool that Microsoft acquired for $1.2 billion in 2012. He’s also behind Craft Ventures, a VC fund that’s backed startups including SpaceX, Reddit, and ClickUp.

In an interview with CNBC in 2017, Sacks said he believed that cryptocurrencies like Bitcoin and Ethereum fulfill the “original vision” of PayPal: creating a “database of money” in which payments never leave the system.

Sacks’ views on AI and AI policymaking, for that matter, are less obvious, though his policies generally are decidedly right-leaning and deregulatory, which could well mean a lighter touch than the outgoing Biden administration favored.



Source link

Lisa Holden
Lisa Holden
Lisa Holden is a news writer for LinkDaddy News. She writes health, sport, tech, and more. Some of her favorite topics include the latest trends in fitness and wellness, the best ways to use technology to improve your life, and the latest developments in medical research.

Recent posts

Related articles

Harvard and Google to release 1 million public-domain books as AI training dataset

AI training data has a big price tag, one best-suited for deep-pocketed tech firms. This is why...

Cartesia claims its AI is efficient enough to run pretty much anywhere

It’s becoming increasingly costly to develop and run AI. OpenAI’s AI operations costs could reach $7 billion this year,...

A new $25M fund aims to give UK mental health startups a shot in the arm

In case you hadn’t noticed, there are a lot of mental health startups out there these days,...

Embedded data analytics startup Embeddable is still handpicking its customers despite strong demand

Tom Gardiner and Harry Marshall founded Trevor.io in 2016 as a no-code business intelligence platform to help...

Bitcoin ATM giant Byte Federal says 58,000 users’ personal data compromised in breach

Byte Federal, one of the largest Bitcoin ATM operators in the U.S., said the personal data of...

Anybotics raises $60M to bring more autonomous industrial robots to the U.S.

Swiss robotics company Anybotics has raised an extra $60 million to close its Series B round off...

Upvest, a stock trading API used by N26, Revolut and others, raises $105 million

Upvest might not be a familiar name if you don’t pay close attention to the fintech industry,...

Laam lands $5.5M to provide South Asian fashions to migrants around the world

Demand for South Asian fashion is growing globally as more South Asians are migrating and settling in...