Brad Garlinghouse, the CEO of leading blockchain payments firm Ripple, expresses optimism about the appointment of David O. Sacks as Crypto Czar.
U.S. President-elect Donald Trump announced Sacks’ appointment on alt-tech social media platform Truth Social, confirming that the finance leader will serve as White House AI (artificial intelligence) and Crypto Czar.
Sacks’ Role as White House AI and Crypto Czar
According to the announcement, Sacks will guide policies in AI and crypto to guarantee America’s leadership in these fields. Specifically, he will work with relevant stakeholders to provide the legal framework for the burgeoning crypto market, giving the industry its highly anticipated legal clarity.
Another part of Sacks’ role involves safeguarding free speech online. The announcement notes that this responsibility will address the bias and censorship orchestrated by big tech companies.
Experience and Expertise
His qualities range from being a successful investor to a businessman who founded top projects like Yammer, acquired by Microsoft.
Notably, Sacks has moderate ties with the crypto sector. He is the co-founder and limited partner at Craft Ventures, a San Francisco-based VC firm that counts crypto-related businesses like Bitwise and Bitgo as portfolio companies.
He previously worked as PayPal’s COO during the company’s founding era and later became a member of the PayPal Mafia.
Ripple CEO Reacts
Reacting, Ripple CEO congratulated Sacks on his appointment, expressing optimism about his nomination.
Garlinghouse highlighted his deep understanding of technology and his ability to advocate for pro-innovation policies for the U.S. AI and Crypto sectors, which aligns with Trump’s vision.
Huge congrats to @DavidSacks on this appointment – he understands tech inside and out, and importantly, will push forward President Trump’s crypto and AI pro-innovation plans.
Dream team! https://t.co/FFMSCIiscl
— Brad Garlinghouse (@bgarlinghouse) December 6, 2024
It bears mentioning that Garlinghouse remains one of the major crypto stakeholders pushing for legal clarity for the industry. Consequently, he has engaged with top policymakers across different government levels. According to reports, the Ripple CEO also met with Trump after the former president secured victory.
Investors Optimistic as Pro-Crypto Advocates Occupy Top Positions Under Trump’s Administration
Meanwhile, Trump, who made some favorable promises to the crypto industry, including making America the crypto capital of the world, has been nominating several pro-crypto advocates to top positions.
They include Scott Bessent as U.S. Treasury Secretary, Robert F. Kennedy as Health Secretary, Elon Musk as head of D.O.G.E (Department of Government Efficiency), and Paul Atkins as U.S. SEC Chair.
Following the appointment of these pro-crypto advocates, investors are confident that the industry will have the much-needed clarity it has demanded for years.
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Source: https://thecryptobasic.com/2024/12/06/trump-appoints-former-paypal-exec-as-white-house-ai-and-crypto-czar/?utm_source=rss&utm_medium=rss&utm_campaign=trump-appoints-former-paypal-exec-as-white-house-ai-and-crypto-czar