Trump appoints former PayPal COO

6/12/2024 9:53

        U.S. President-elect Donald Trump on Thursday said he was appointing former PayPal Chief Operating Officer David Sacks to be his White House Artificial Intelligence and Crypto Czar. "He will work on a legal framework so the Crypto industry has the clarity it has been asking for, and can thrive in the U.S.," Trump said in a post on his social-media site Truth Social. Trump - who once labeled crypto a scam - embraced digital assets during his campaign, promising to make the United States the "crypto capital of the planet" and to accumulate a national stockpile of bitcoin. Bitcoin broke $100,000 for the first time on Wednesday night, a milestone hailed even by skeptics as a coming-of-age for digital assets as investors bet on a friendly U.S. administration to cement the place of cryptocurrencies in financial markets. Sacks is also a former chief executive of software company Zenefits and founded Yammer, a social network for enterprise users. Trump said Sacks wil
        l also lead the Presidential Council of Advisors for Science and Technology.