Trump Taps PayPal Alum David Sacks as AI & Crypto Czar

On Thursday, President-elect Donald Trump appointed former PayPal COO David Sacks as the White House’s new artificial intelligence and cryptocurrency “czar” via a Truth Social post to establish a clear regulatory framework that allows the digital asset industry to thrive in the United States.

Trump announced the high-profile appointment on his social media platform, emphasizing Sacks’ upcoming role in shaping the nation’s tech landscape. According to Trump, Sacks will focus on creating long-sought legal clarity, ensuring the domestic crypto sector can grow without facing unnecessary bureaucratic hurdles.

The PayPal Mafia and Silicon Valley Pedigree

Sacks is widely recognized as a prominent member of the “PayPal Mafia,” an elite group of early employees and founders who went on to shape the modern tech landscape. Beyond his early executive role at PayPal, Sacks co-founded Yammer, an enterprise communication tool acquired by Microsoft in 2012 for $1.2 billion.

Today, he leads Craft Ventures, a prominent venture capital firm. Under his guidance, the fund has backed major tech giants and startups, including SpaceX, Reddit, and ClickUp, cementing Sacks’ influence across Silicon Valley.

A Deregulatory Approach to Crypto and AI

Sacks has long championed digital assets. In a 2017 interview with CNBC, he expressed his belief that major cryptocurrencies like Bitcoin and Ethereum realize the original vision of PayPal—serving as a seamless, global “database of money” where transactions remain entirely within the system.

While Sacks’ specific stance on AI policy remains less defined, his broader political positions lean heavily toward deregulation. This philosophy suggests the incoming administration will likely adopt a significantly lighter regulatory touch on artificial intelligence compared to the more restrictive policies favored by the outgoing Biden administration.