President-elect Trump appoints former PayPal COO David Sachs as “White House AI and cryptocurrency czar” – GIGAZINE

President-elect Donald Trump has accused David Sachs, known as a member of the PayPal mafia, a group of businessmen who used to work at PayPal, toWhite House AI & Crypto Oversight Officer White House AI & Crypto Czar(Czar means Tsar of Russia, and also means guru or supervisor).

According to Trump, the “White House AI and Cryptocurrency Czar” will be responsible for policy guidance to make America the world leader in AI and virtual currencies. “He will protect free speech online and keep Big Tech’s bigotry and censorship away from citizens,” Trump said of Sachs’ role. “He will also provide the clarity the crypto industry has needed. “We will work to establish a legal framework to ensure America’s prosperity.” It was also announced that Mr. Sachs will lead the President’s Council of Advisors on Science and Technology (PCAST).

Mr. Sachs is originally from Cape Town, South Africa, and moved to Tennessee when he was five years old. He received a BA in Economics from Stanford University in 1994 and a J.D. from the University of Chicago Law School in 1998. After that, he held positions such as COO of the payment service “PayPal” and CEO of the enterprise SNS “Yammer.”

Mr. Sachs posted a long post on June 7, 2024 expressing support for Mr. Trump. In the post, Mr. Sachs compares Mr. Trump and President Joe Biden’s “economic policy,” “foreign policy,” “immigration policy,” and “legal fairness,” and explains why he supports Mr. Trump.

Regarding Biden’s economic policies, Sachs said, “Biden’s inflation policies have caused the average American to lose money over the past few years by implementing unnecessary economic stimulus measures to combat the coronavirus pandemic.” “We have lost one-fifth of our purchasing power,” he said. Furthermore, regarding foreign policy, “we unnecessarily worsened relations with Saudi Arabia and caused a chaotic withdrawal of American troops from Afghanistan” and “promoted Ukraine’s membership in NATO before there was a consensus among NATO members.” “Biden rejected a diplomatic solution between Ukraine and Russia.”

Mr. Sachs also noted that he is an immigrant, saying, “America has a history of strengthening its national power by accepting talented people from other countries.” A lawful immigration process that emphasizes principles is essential. The Trump administration favored such a process. “Biden’s immigration policy is essentially an open border policy. Illegal border crossings are surging, There is confusion and danger at the country’s borders.”

Furthermore, Mr. Sachs said, “Mr. Biden pushed for the prosecution of Mr. Trump after taking office,” and “The Biden administrationCorruption allegations against Biden’s son Hunter BidenHe argued that Trump is more suitable as president than Biden in terms of economic policy, foreign policy, immigration policy, and legal fairness.

Mr. Sacks’ post above states that he is a supporter of Mr. Trump and says,Department of Government Efficiency (DOGE)Elon Musk, who was also featured in the top of the magazine, commented, “This is a thoughtful piece of writing.”

Mr. Trump has announced his focus on virtual currencies since the election period, and on December 5, 2024, he nominated virtual currency advocate Paul Atkins as chairman of the Securities and Exchange Commission (SEC). I announced what I had done. Along with this, the price of Bitcoin has increased and exceeded $ 100,000 (about 15 million yen) for the first time.

President-elect Trump appoints virtual currency advocate Paul Atkins as the next SEC chairman, causing Bitcoin to surpass the $100,000 mark for the first time – GIGAZINE