Close Menu
CryptoHoppers.comCryptoHoppers.com
    What's Hot

    By: Henry Brown

    November 7, 2024

    The SEC’s Impact Theory on NFTs: A Deep Dive into the Impact Theory Case | NFT CULTURE | NFT News | Web3 Culture

    August 28, 2023

    The Legend of Aurum Draconis

    May 19, 2023
    Facebook X (Twitter) Instagram
    • Privacy Policy
    • Get In Touch
    Facebook X (Twitter) Instagram
    CryptoHoppers.comCryptoHoppers.com
    • News

      GENIUS Act Passes House with 308 Votes, Could Redefine Stablecoins and Supercharge U.S. Crypto

      July 18, 2025

      Bitcoin May Freeze Satoshi’s Wallet Over Quantum Threat

      July 16, 2025

      Bitcoin under pressure as Satoshi-era whale sells: Will BTC drop to $108K?

      July 15, 2025

      BlackRock’s Bitcoin ETF Blows Past $80,000,000,000, Faster Than Any Other Exchange-Traded Fund in History: Bloomberg Analyst

      July 14, 2025

      Will Pi crash or rally in 2025?

      July 11, 2025
    • Technology

      Windtree Becomes First NASDAQ Firm to Add BNB to Its Balance Sheet

      July 18, 2025

      What is AI16Z – AMBCrypto

      July 17, 2025

      Bonk gains 15% to lead memecoins as altcoins eye rally

      July 16, 2025

      Comment on Trump Firing Powell Would Set ‘Very Bad Precedent,’ Warns Pompliano by Powell's Replacement? Fed Chair Succession Process Underway

      July 15, 2025

      Hungary Bans Unlicensed Crypto Platforms: Revolut and Bitstamp Suspend Services

      July 14, 2025
    • Learn/Guide

      $10.7 trillion Charles Schwab to launch spot Bitcoin, Ether trading, eyes stablecoin market entry

      July 18, 2025

      Russia’s largest bank Sberbank to roll out Bitcoin, crypto custody services to catch up with global banks

      July 17, 2025

      Trump Media files trademarks for Truth Social AI and AI Search

      July 16, 2025

      DOJ and CFTC drop investigations into Polymarket

      July 15, 2025

      FUNToken Isn’t Just Trending – It’s Consolidating Power in Telegram, One User at a Time

      July 14, 2025
    • NFTs

      1mouth Analog: miirror’s Raw Leap from Digital to Handmade Chaos | NFT CULTURE | NFT News | Web3 Culture

      May 9, 2025

      NFTCulture Expands Into TCGs with Cardcore.xyz: Where Digital Collectibles Meet Competitive Play | NFT CULTURE | NFT News | Web3 Culture

      May 8, 2025

      From Moonshots to Broken Links: The Rise and Fall of CloneX | NFT CULTURE | NFT News | Web3 Culture

      April 24, 2025

      Pacific Spirit: Vinyl Meets Code in a Groundbreaking Generative Drop on Art Blocks | NFT CULTURE | NFT News | Web3 Culture

      April 16, 2025

      Daizen: Elevating the NFT Multiverse on Apechain Blockchain | NFT CULTURE | NFT News | Web3 Culture

      December 5, 2024
    • Regulation

      SEC Drops Binance Lawsuit: How Regulatory Clarity Could Spark a BNB Price Rally

      May 30, 2025

      Kentucky Governor Signs Off On ‘Bitcoin Rights’ Bill, Strengthening Crypto Protections

      March 31, 2025

      Utah Moves Closer To Bitcoin Reserve As Bill Advances To Senate Standing Committee

      February 23, 2025

      Bitcoin ETFs In Focus As Kansas Senator Proposes Up To 10% Pension Fund Allocation

      January 26, 2025

      MicroStrategy May Face Tax Issues Over $19 Billion Unrealized Bitcoin Gains: Report

      January 25, 2025
    • Business

      Sri Lanka’s E-commerce Platform Kapruka to Introduce Crypto Payments

      November 17, 2024

      Leading Eastern European Exchange Exmo Sells Business in Russia, Belarus

      November 16, 2024

      Bank of Russia to Launch Digital Ruble Payment Infrastructure by July 2025

      November 15, 2024

      Bitcoin Mining Company Mara Holdings Now Holds 26,747 Bitcoin: Q3 Earnings Report Reveals

      November 14, 2024

      Brazil Prepares to Let Tradfi Institutions Embrace Crypto

      November 13, 2024
    • Live Pricing
    CryptoHoppers.comCryptoHoppers.com
    Home » Who is David Sacks? Trump’s pick for White House AI and Crypto Czar is a Bitcoin holder
    Learn/Guide

    Who is David Sacks? Trump’s pick for White House AI and Crypto Czar is a Bitcoin holder

    December 6, 20245 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Who is David Sacks? Trump's pick for White House AI and Crypto Czar is a Bitcoin holder
    Share
    Facebook Twitter LinkedIn Pinterest Email


    Key Takeaways

    • David Sacks has been nominated by Donald Trump as the White House AI and Crypto Czar.
    • Sacks invested in Bitcoin early on and he will be involved in regulating the crypto industry following Trump’s nomination.

    Share this article







    President-elect Donald Trump has nominated David Sacks as his White House AI and Crypto Czar. Who is David Sacks and what is his stance on Bitcoin and crypto?

    Who is David Sacks?

    David Sacks is a South African-American entrepreneur and investor recognized for his influential roles in the tech industry. He was born in Cape Town, South Africa, into a Jewish family and relocated to the US at the age of five, where his family established roots in Tennessee.

    Growing up, Sacks was inspired by his grandfather, who started a candy factory in the 1920s. Although he did not initially aspire to be an entrepreneur—preferring not to follow in his father’s footsteps as an endocrinologist—his family’s entrepreneurial legacy influenced his career path.

    He attended Memphis University School before pursuing higher education at Stanford University, where he earned a Bachelor of Arts in Economics in 1994. He later obtained a Juris Doctor from the University of Chicago Law School in 1998.

    In 1999, Sacks joined PayPal as its first product leader and later became the company’s Chief Operating Officer. He played a key role in transforming PayPal into a global leader in online payments.

    Following PayPal’s acquisition by eBay in late 2002, Sacks founded Yammer, a social networking platform for businesses that was acquired by Microsoft.

    In 2017, he co-founded Craft Ventures. The venture capital firm has invested in numerous successful technology firms like SpaceX, Uber, Airbnb, BitGo, and Reddit, to name a few. As of November 2023, Craft Ventures’ assets under management grew to $3.3 billion.

    Apart from his achievements at Craft Ventures, the Silicon Valley entrepreneur is also known for co-hosting the “All-In” podcast alongside other prominent venture capitalists. The podcast discusses various topics related to technology, politics, and economics.

    A close friend of Elon Musk

    David Sacks and Elon Musk share a close relationship rooted in their involvement in PayPal’s early development. After leaving the company, both became successful entrepreneurs and continued to work together on various ventures.

    They are part of the so-called “PayPal Mafia,” a network of influential tech entrepreneurs who worked together in the early 2000s and have since gone on to create successful tech companies.

    The venture capitalist played an important role in Musk’s acquisition of Twitter (now X). Sacks provided funding for the $44 billion deal and served as a trusted advisor during the ownership transition, according to the NYT.

    Sacks is also known for his political contributions, particularly for his support of Florida Governor Ron DeSantis, a pro-Bitcoin politician and an anti-CBDC.

    A Trump supporter

    Sacks has positioned himself as a strong advocate for Trump’s return to the presidency. His perspective is that Trump’s policies are better suited to meeting the challenges facing the nation. In comparison, he feels the Biden administration has struggled to provide compelling alternatives.

    The entrepreneur has been vocal in his criticism of the current administration’s policies, particularly regarding key issues such as the economy, foreign policy, and border security. He believes that under Donald Trump’s leadership, America can regain prosperity, security, and stability.

    On December 5, Trump officially appointed Sacks as White House AI and Crypto Czar.

    He is expected to guide the administration’s policies on AI and crypto—areas deemed critical to American competitiveness. The focus would be on creating a legal framework that provides clarity for the crypto industry.

    Trump stated that Sacks would work to safeguard free speech online and help build regulatory frameworks for the crypto industry.

    And a Bitcoin investor

    Sacks has long been a supporter of crypto assets like Bitcoin and Ethereum, viewing them as embodiments of the original vision behind PayPal—establishing a “database of money” where transactions remain within a secure digital ecosystem.

    He has observed Bitcoin’s evolution from a niche asset to a more mainstream investment opportunity, and has invested in the flagship crypto asset.

    “I’ve been interested in Bitcoin since I think I first bought it in 2012. We did express a thesis back in 2017, 2018 that we thought that crypto would graduate into being an institutional asset class and being really more of consumer retail phenomenon,” Sacks said during an interview with Anthony Pompliano.

    “So we ended up investing in institutional custody through a company called BitGo and we also invested in Multicoin, a crypto-focused hedge fund,” he added. “We basically believe that as crypto matures into an asset class, you would need specialized fund managers.”

    Sacks believes that the transformational part of Bitcoin is its potential ability to function as non-fiat money.

    With the risks associated with government-controlled currencies, particularly regarding currency debasement due to excessive money printing, he thinks Bitcoin offers the possibility of a financial system independent of government control.

    “There is a huge risk of currency debasement when the government is in control and particularly when you have the world’s reserve currency. There’s just such an enormous temptation to print money to finance your budget and to rack up loans that become unpayable,” said the VC.

    “What Bitcoin offers is a different kind of currency where it’s not backed by a government; it’s backed by math; it’s backed by encryption. You don’t have to trust the government. There will only be 21 million BTC. You just have to trust that Bitcoin effectively won’t be cracked,” he stated.

    While Sacks believes that Bitcoin has the strongest case among crypto assets, he acknowledges other technological advancements that have emerged alongside it, such as blockchain technology and decentralized finance.

    Share this article









    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    $10.7 trillion Charles Schwab to launch spot Bitcoin, Ether trading, eyes stablecoin market entry

    July 18, 2025

    Russia’s largest bank Sberbank to roll out Bitcoin, crypto custody services to catch up with global banks

    July 17, 2025

    Trump Media files trademarks for Truth Social AI and AI Search

    July 16, 2025

    DOJ and CFTC drop investigations into Polymarket

    July 15, 2025
    Top Posts

    Bitcoin Advocate US Presidential Candidate Drops Out Of Contention

    August 31, 2023

    Tinubu’s Ambiguous Crypto Policies Leave Nigerians in Limbo

    June 3, 2024

    Ford Teams Up With Iagon to Pilot Cardano-Powered Legal Data Storage Solution

    June 22, 2025

    Welcome to CryptoHoppers.com! Stay informed with the latest updates, trends, and insights from the dynamic world of cryptocurrencies. From Bitcoin to altcoins, blockchain technology to decentralized finance (DeFi), we cover it all. Discover expert analysis, market trends, regulatory developments, and exciting innovations shaping the crypto industry.

    Top Insights

    GENIUS Act Passes House with 308 Votes, Could Redefine Stablecoins and Supercharge U.S. Crypto

    July 18, 2025

    Bitcoin May Freeze Satoshi’s Wallet Over Quantum Threat

    July 16, 2025

    Bitcoin under pressure as Satoshi-era whale sells: Will BTC drop to $108K?

    July 15, 2025
    Advertisement
    Demo
    CryptoHoppers.com
    Facebook X (Twitter) Instagram
    • News
    • Technology
    • Learn/Guide
    • Regulation
    • NFTs
    • Business
    • Live Pricing
    © 2025. Designed by CryptoHoppers.com.

    Type above and press Enter to search. Press Esc to cancel.