AI and crypto czar David Sacks transitions from a leadership role to a general advisor

ChainCatcher news, Trump appoints David Sacks as the "AI and Crypto Czar" to lead a new advisory committee, raising concerns. Sacks is a venture capitalist, podcaster, and former PayPal executive.

However, insiders from the transition team revealed that last week the position was downgraded from a leadership role to a general advisory position, partly because Sacks was unwilling to detach from his investment firm Craft Ventures and did not want to go through the formal appointment process.

In the future, Michael Kratsios will lead the technology policy work, with Sacks providing policy ideas. Despite the change in position, Sacks remains influential, frequently active in Florida and San Francisco, and meeting with lawmakers. His appointment has sparked controversy over potential conflicts of interest, but some in Silicon Valley are optimistic, believing it could benefit startups, while others express doubts about his expertise and worry about policy directions.