Today marks a significant moment for the new Trump administration. Venture capitalist David Sacks has been given the limelight and addressed press today in Washington D.C. Crypto enthusiasts have been closely watching developments since the news of the press conference broke. But we ask, is David sacks the new AI and Crypto Czar?
Last August DisruptionBanking shared news of Trump’s meeting with David Sacks at a pricey fundraising event in June. This was one of the pivotal moments of Trump’s pro-crypto policies. Not long after the election, the U.S. President promptly appointed David Sacks as his “White House A.I. & Crypto Czar.”
Who is David Sacks?
According to his LinkedIn profile, David was part of the ‘PayPal Mafia’ from 1999 to 2002. He served as COO and Head of Product at PayPal during this time. Since then the Silicon Valley veteran founded Yammer, an enterprise social network, which he sold to Microsoft in July 2012 for $1.2 billion. He then created Craft Ventures in 2017 where he worked until his appointment to his role as ‘AI and Crypto Czar’ last December.
His time at Craft Ventures will be of interest to many of our readers. We had a look at some of the companies listed in the venture capital firm’s portfolio. Venture capital firms in the U.S. have an excellent reputation for identifying high-potential startups. Craft Ventures is no different, the company lists Bitwise, Airbnb, copy.ai, Eventbrite, Hootsuite, lyft, Meta, Palantir, Quora, Reddit, slack, SpaceX, twilio, X, and Uber as some examples of globally recognized tech firms and startups that it invests in.
Then there was last week’s Executive Order, “Strengthening American Leadership in Digital Financial Technology.” It signalled intent by the new U.S. administration. The continuation of which we witnessed today.
What Does David Sacks Bring to the Trump Party?
Last week Sacks spoke to PodiumVC about the Executive Order issued on the 23rd of Jannuary this year. He explained how “the main thing it [the executive order] does is it forms an internal working group with the goal of making the U.S. the world leader in crypto.”
Members of the working group that Sacks mentions includes the new head of the SEC, the Secretary of the Treasury, and all the agencies and departments that have an interest in crypto. Sacks chairs this working group, and the goal of the group is “to identify, and make recommendations that departments would take back and execute. With the goal of making America the capital of crypto.”
With artificial intelligence the goal is similar. To make the U.S. globally Number 1.
Can David Sacks Re-ignite the Crypto Bull Run?
Everything was going so well in 2025. Bitcoin remained above $100,000 most of the time, and leading altcoins like HBAR or Solana were gaining momentum… Until they suddenly stopped.
David Sacks opened his press conference by reiterating the words of Donald Trump: “it’s the policy of his administration to support the responsible growth of blockchain technology. And he has established an executive branch working group for digital assets.”
He mentions Hester Pierce in his opening remarks. However, the briefing may not have lived up to expectations. Much of it referred to what might happen over the next few days rather than any concrete steps forward. Sacks highlighted the need to enforce clear regulation. As things are, much of the crypto sector operate outsides the U.S., a concern for the U.S. administration. See Bahamas and FTX, says Sacks.
Sacks also briefly mentioned his desire to continue the dialogue about a bitcoin reserve in the U.S. More details to follow soon, he explained.
Time will tell whether the U.S. can truly take on the Crypto crown. DeepSeek has already disrupted U.S. dominance in AI; crypto might be the best sector to regain momentum in line with Trump’s goals.
One thing is for sure. If the PayPal Mafia, or any other Mafia for that matter, can’t help Make America Great Again, then Trump needs to think of more creative ways to get things done.
Author: Andy Samu
See Also:
Is there a Silicon Valley Mafia? | Disruption Banking
Crypto Lobbyists Win: Trump headlines Bitcoin 2024 while Harris seeks ‘reset’ | Disruption Banking
How DeepSeek Sparked a Tech Selloff in the U.S. | Disruption Banking
Is a Global Bitcoin Arms Race Looming in 2025? | Disruption Banking
