David Sacks, the White House’s “AI and crypto czar,” has denied a Fortune report that he has been promoted to a general advisory role.
David Sacks, the White House’s “AI and crypto czar,” has denied a report by legacy media outlets that his responsibilities have been altered.
Sacks stated that he would allocate 50% of his time to leading policy in Washington D.C. and 50% to staying informed about the latest technological advancements, such as artificial intelligence (AI) and cryptocurrencies, in Silicon Valley.
“Czar Of AI, Cryptocurrency” Forbes Report Refuted By David Sacks
On December 21, David Sacks addressed X to confirm that his position remains unchanged, as he had requested.
The forthcoming AI and crypto administrator has declared that he will assume a leadership position in the development of policies and regulations for technologies, including AI and crypto.
Earlier today, Fortune reported that the AI and crypto chancellor position, which was initially anticipated to be a straightforward leadership role, is now more of a general advisory position.
Two individuals who are acquainted with the inner workings of the Trump Vance transition team were cited by the legacy media.
The role was alleged to have been reduced due to Sacks’ refusal to divest 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.”
Nevertheless, Sacks declared, “This is utter nonsense.” Also, he anticipates that he will dedicate 50% of his time to the direction of policy in Washington, D.C.
Additionally, he stated that the remaining 50% of individuals in Silicon Valley are committed to remaining at the forefront of technological advancements.
This is consistent with the request made by David Sacks.
Sacks To Assist In Provision Of Crypto Clarity, Additional Information
The prospective AI and crypto czar has provided his perspective on critical issues, including the regulatory clarity of crypto, AI policy, and concerns such as the Ripple vs US SEC lawsuit and Operation Choke Point 2.0.
David Sacks has advocated for the termination of the Ripple vs SEC lawsuit.
Sacks will advance President Trump’s crypto and AI pro-innovation initiatives, according to Ripple CEO Brad Garlinghouse and CLO Stuart Alderoty.
Additionally, he stated that the allegations regarding Operation Choke Point 2.0 warrant further investigation. Five US institutions were targeted by American regulators in an effort to debunk the crypto industry.