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CoinGape 2024-12-21 06:56:36

Just-In: ‘AI & Crypto Czar’ David Sacks Clarifies Misinformation About His Role

Donald Trump’s White House ‘AI and crypto czar’ David Sacks has refuted a legacy media report that his role has changed. Sacks said he would spend 50% of his time in Washington D.C. guiding policy and 50% in Silicon Valley to stay connected with cutting-edge technological advancements, including artificial intelligence (AI) and cryptocurrencies. ‘AI & Crypto Czar’ David Sacks Refutes Forbes Report David Sacks took to X on December 21 to clarify his role remains the same as he requested. The incoming AI and crypto czar said he will have a leadership role in establishing policies and regulations for technologies, such as AI and crypto. Earlier today, Fortune reported that the AI and crypto czar role initially expected to be a cut-and-dry leadership role is set to be more of a general advisory position. The legacy media cited two people familiar with the inner workings of the Trump Vance transition team. The reason for scaling back the role was reported to be Sacks not divesting from his investment firm Craft Ventures. “Not divesting, not taking a more formal government role, that makes it very complicated. Even if Trump and people in his administration usually see conflicts of interest as an afterthought, the situation with Sacks became an issue, even from a practical perspective.” However, Sacks said, “This is total nonsense.” Also, he expects to spend 50% of his time in Washington D.C. directing policy. The remaining 50% in Silicon Valley staying on the cutting edge technological advancements, he added. This is in line with what David Sacks requested . Sacks to Help Provide Crypto Clarity and More The incoming AI & crypto czar has expressed insights on key topics including AI policy, crypto regulatory clarity, and concerns such as Operation Choke Point 2.0 and Ripple vs US SEC lawsuit. David Sacks has rooted for end of Ripple vs SEC lawsuit . Ripple CEO Brad Garlinghouse and CLO Stuart Alderoty said Sacks will push President Trump’s crypto and AI pro-innovation plans forward. He also said the allegations around Operation Choke Point 2.0 deserve probe . American regulators went after 5 US banks to debank the crypto industry. The post Just-In: ‘AI & Crypto Czar’ David Sacks Clarifies Misinformation About His Role appeared first on CoinGape .