‘He actually has juice’: Sacks Becomes a Crucial Supporter of Crypto and AI
By choosing a tech investor, Trump indicates that he is committed to implementing regulations and rules that favor the industry.
TroibNews 
Donald Trump is making a significant commitment to Silicon Valley.
The president-elect’s appointment of David Sacks, a venture capitalist and podcaster, as the czar for artificial intelligence and cryptocurrency positions an industry expert to potentially shape how the federal government oversees these rapidly expanding sectors of technology and finance.
Trump’s choice of Sacks signals an intention to implement business-friendly regulations for AI and cryptocurrency. Although the czar position is advisory and its powers are not entirely defined, Sacks — a well-known tech investor and staunch Trump supporter — has voiced criticism regarding the regulatory approach taken by President Joe Biden's administration over the past four years.
Members of the House Financial Services Committee are highlighting this appointment as a testament to their influence. The committee has been at the forefront of efforts to reform cryptocurrency legislation, which has faced obstacles in the Senate despite enjoying significant bipartisan support in the House.
“He’s obviously brilliant,” stated Rep. Dusty Johnson, a Republican from South Dakota who has played a role in developing crypto-friendly legislation through his position on the House Agriculture Committee. “I’m pretty excited, because I do think there’s a lot we have to get done in the AI and digital asset space — and, listen, David Sacks is a guy who knows how to charge forward.”
With this move, Trump aims to adopt a markedly different perspective on emerging technologies compared to Biden’s administration, fostering a more enthusiastic stance toward growth. The president-elect's close relationships with "little tech" — the venture capitalists and entrepreneurs integral to the Silicon Valley ecosystem — suggest that Sacks' appointment may further propel these initiatives.
Rep. French Hill, who is campaigning to succeed retiring Chair Patrick McHenry, shared on X that he “look[s] forward to working with David and President Trump on driving our mutual priorities of bolstering innovation and ensuring America is the leader of these groundbreaking technologies.”
“The mere fact that the U.S. now has a crypto and AI ‘czar’ reflects the impact of” the panel, McHenry noted in a post on X. “The era of regulation by enforcement is over.”
As czar, Sacks is expected to leverage his position to advocate for the interests of AI companies, which favor a move away from comprehensive regulations while seeking clearer assurances that their business operations won’t face legal repercussions. He will likely focus on the crypto industry’s long-standing demands for tailored regulations from both Wall Street overseers and Congress.
In a post on Truth Social shortly after his appointment, Trump remarked that Sacks “will safeguard Free Speech online, and steer us away from Big Tech bias and censorship” and will work to provide crypto with “the clarity it has been asking for.”
Jacob Helberg, a senior adviser to Palantir CEO Alex Karp, expressed his excitement for Sacks’ appointment. “Few people blend a deep understanding of these technologies with direct operational experience,” Helberg indicated. “He will be an asset to the administration and his selection reflects the President’s superb ability to attract top talent to the government.”
Sacks is a partner at the venture capital firm Craft Ventures and has previously invested in high-profile companies such as Airbnb, Lyft, and Elon Musk’s SpaceX. He is also part of the so-called PayPal Mafia, a collective of founders and former employees that includes Musk and Peter Thiel.
In June, Sacks orchestrated a successful fundraiser for Trump in San Francisco, raising several million dollars from individuals in the crypto and AI sectors — an event that evidently impressed the president-elect. Trump praised Sacks’ home during an episode of Sacks' All In podcast that same month.
Rep. Stephen Lynch of Massachusetts, the leading Democrat on the House Financial Services Committee’s crypto subcommittee, voiced concerns that Sacks may serve as more of an industry advocate than an objective overseer. “I just thought we might get someone who was a little bit more objective,” Lynch commented in an interview. “There’s enough caution in that space that’s deserved that might be overridden by the president’s own interests as well. It seems to be all pushing from the same direction, and I’m not comfortable with that.”
Other panel members, such as Rep. Ritchie Torres, expressed that Sacks might not wield significant authority over Trump’s policies. "I welcome his pro-tech tendencies," Torres remarked in an interview, but "when it comes to crypto, the positions that matter most are the SEC and CFTC," and "it is unclear to me what impact a crypto czar would have on crypto policy."
According to a spokesperson for Craft, the czar role is an advisory one, and Sacks will remain affiliated with the firm. Neither Sacks nor the Trump transition team has commented on the situation.
Crypto lobbyists view Sacks' appointment as favorable for the industry they represent. They describe him as an early supporter of the $3 trillion digital assets market and believe he will have more influence with Trump than other candidates who were considered for the role.
“The big thing that is great for the industry is that he has a very large bully pulpit — and he actually has juice,” noted one crypto lobbyist, speaking anonymously to offer candid views. “David has all the most important people in his corner — himself included — and crypto will get appropriate attention as a result.”
Lucas Dupont contributed to this report for TROIB News
The president-elect’s appointment of David Sacks, a venture capitalist and podcaster, as the czar for artificial intelligence and cryptocurrency positions an industry expert to potentially shape how the federal government oversees these rapidly expanding sectors of technology and finance.
Trump’s choice of Sacks signals an intention to implement business-friendly regulations for AI and cryptocurrency. Although the czar position is advisory and its powers are not entirely defined, Sacks — a well-known tech investor and staunch Trump supporter — has voiced criticism regarding the regulatory approach taken by President Joe Biden's administration over the past four years.
Members of the House Financial Services Committee are highlighting this appointment as a testament to their influence. The committee has been at the forefront of efforts to reform cryptocurrency legislation, which has faced obstacles in the Senate despite enjoying significant bipartisan support in the House.
“He’s obviously brilliant,” stated Rep. Dusty Johnson, a Republican from South Dakota who has played a role in developing crypto-friendly legislation through his position on the House Agriculture Committee. “I’m pretty excited, because I do think there’s a lot we have to get done in the AI and digital asset space — and, listen, David Sacks is a guy who knows how to charge forward.”
With this move, Trump aims to adopt a markedly different perspective on emerging technologies compared to Biden’s administration, fostering a more enthusiastic stance toward growth. The president-elect's close relationships with "little tech" — the venture capitalists and entrepreneurs integral to the Silicon Valley ecosystem — suggest that Sacks' appointment may further propel these initiatives.
Rep. French Hill, who is campaigning to succeed retiring Chair Patrick McHenry, shared on X that he “look[s] forward to working with David and President Trump on driving our mutual priorities of bolstering innovation and ensuring America is the leader of these groundbreaking technologies.”
“The mere fact that the U.S. now has a crypto and AI ‘czar’ reflects the impact of” the panel, McHenry noted in a post on X. “The era of regulation by enforcement is over.”
As czar, Sacks is expected to leverage his position to advocate for the interests of AI companies, which favor a move away from comprehensive regulations while seeking clearer assurances that their business operations won’t face legal repercussions. He will likely focus on the crypto industry’s long-standing demands for tailored regulations from both Wall Street overseers and Congress.
In a post on Truth Social shortly after his appointment, Trump remarked that Sacks “will safeguard Free Speech online, and steer us away from Big Tech bias and censorship” and will work to provide crypto with “the clarity it has been asking for.”
Jacob Helberg, a senior adviser to Palantir CEO Alex Karp, expressed his excitement for Sacks’ appointment. “Few people blend a deep understanding of these technologies with direct operational experience,” Helberg indicated. “He will be an asset to the administration and his selection reflects the President’s superb ability to attract top talent to the government.”
Sacks is a partner at the venture capital firm Craft Ventures and has previously invested in high-profile companies such as Airbnb, Lyft, and Elon Musk’s SpaceX. He is also part of the so-called PayPal Mafia, a collective of founders and former employees that includes Musk and Peter Thiel.
In June, Sacks orchestrated a successful fundraiser for Trump in San Francisco, raising several million dollars from individuals in the crypto and AI sectors — an event that evidently impressed the president-elect. Trump praised Sacks’ home during an episode of Sacks' All In podcast that same month.
Rep. Stephen Lynch of Massachusetts, the leading Democrat on the House Financial Services Committee’s crypto subcommittee, voiced concerns that Sacks may serve as more of an industry advocate than an objective overseer. “I just thought we might get someone who was a little bit more objective,” Lynch commented in an interview. “There’s enough caution in that space that’s deserved that might be overridden by the president’s own interests as well. It seems to be all pushing from the same direction, and I’m not comfortable with that.”
Other panel members, such as Rep. Ritchie Torres, expressed that Sacks might not wield significant authority over Trump’s policies. "I welcome his pro-tech tendencies," Torres remarked in an interview, but "when it comes to crypto, the positions that matter most are the SEC and CFTC," and "it is unclear to me what impact a crypto czar would have on crypto policy."
According to a spokesperson for Craft, the czar role is an advisory one, and Sacks will remain affiliated with the firm. Neither Sacks nor the Trump transition team has commented on the situation.
Crypto lobbyists view Sacks' appointment as favorable for the industry they represent. They describe him as an early supporter of the $3 trillion digital assets market and believe he will have more influence with Trump than other candidates who were considered for the role.
“The big thing that is great for the industry is that he has a very large bully pulpit — and he actually has juice,” noted one crypto lobbyist, speaking anonymously to offer candid views. “David has all the most important people in his corner — himself included — and crypto will get appropriate attention as a result.”
Lucas Dupont contributed to this report for TROIB News
