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Incoming president Donald Trump has a new crypto and AI “ tsar ” : ex - PayPal COO David Sacks .
TrumpannouncedSacks ’ appointment Thursday in a post on Truth Social , Trump ’s social networking program . “ [ Sacks ] will sour on a legal theoretical account so the Crypto [ sic ] industry has the limpidity it has been asking for , and can flourish in the US , ” he write .
Sacks , a appendage of the “ PayPal Mafia , ” is a cobalt - founding father of Yammer , the internal communications instrument that Microsoft acquired for $ 1.2 billion in 2012 . He ’s also behind Craft Ventures , a VC fund that has backed startups , including SpaceX , Reddit , and ClickUp .
In an audience with CNBC in 2017 , Sacks said he believed that cryptocurrencies like bitcoin and ethereum fulfill the “ original imagination ” of PayPal : create a “ database of money ” in which defrayment never result the system .
Sacks ’ views on AI and AI policymaking are less obvious , though his policy broadly are in spades right - leaning and deregulatory , which could well have in mind a lighter touch than the forthcoming Biden administration favored .
