President-elect Donald Trump has appointed David Sacks, former PayPal COO and prominent podcaster, as the White House czar for artificial intelligence (AI) and cryptocurrency. This newly created role will see Sacks guide the administration's policy on these crucial sectors, which are seen as vital for America's future competitiveness. However, the specifics of how this new role will function within the government remain unclear. Trump praised Sacks for his business acumen, intelligence, and experience, claiming he would help "MAKE AMERICA GREAT."

David Sacks is closely connected to tech figures like Elon Musk, whom he supported in his Twitter acquisition, and he has also been a significant donor to Trump's political campaign, securing over $12 million in a fundraising event. Additionally, Sacks is expected to collaborate with Musk on AI initiatives, particularly in light of Musk's AI company, xAI, and its chatbot, Grok. Both Sacks and Musk will serve as special government employees, meaning they can work for the government for up to 130 days per year without having to divest their personal assets.

Sacks will also head the council of advisors for science and technology, a broad role overseeing sectors like energy, public health, national security, and the environment. One of his primary tasks will be to help create a legal framework for the crypto industry in the U.S., providing clarity and supporting its growth. As anticipation of a friendlier regulatory environment grows, Bitcoin recently surpassed the $100 barrier for the first time in 15 years, signaling optimism about Sacks' role in the government.