David Sacks steps aside as Trump’s AI and crypto czar

[Crypto Czar David Sacks Speaks Outside The White House]
Kayla Bartkowski/Getty Images News

Venture capitalist David Sacks is stepping down from his role as artificial intelligence and crypto czar for President Donald Trump after reaching the 130-day limit as a special government employee.

Sacks said he will transition to the President’s Council of Advisers on Science & Technology (PCAST), where he will serve as co-chair and advise on a broader range of technology issues beyond AI.

“I think moving forward as co-chair of PCAST, I can now make recommendations on not just AI but an expanded range of technology topics,” he said.

PCAST is a federal advisory group made up of industry and academic experts that provides guidance to the president on technology, scientific research, and innovation policy.

Sacks has been a key voice in the White House during Trump’s second term and is a longtime Silicon Valley investor and co-founder of Craft Ventures. He is part of the so-called "PayPal Mafia," referring to former PayPal (PYPL [https://seekingalpha.com/symbol/PYPL]) staff and founders who went on to start other tech companies. The group includes Tesla (TSLA [https://seekingalpha.com/symbol/TSLA]) CEO Elon Musk and Palantir (PLTR [https://seekingalpha.com/symbol/PLTR]) chairman Peter Thiel.

Sacks said he will continue to support the administration’s AI framework [https://seekingalpha.com/news/4566951-white-houses-ai-blueprint-contends-federal-laws-should-trump-states-rights-in-ai-legislation]released last week, which focuses in part on easing permitting and power generation to enable faster infrastructure buildouts without increasing residential electricity costs.

A White House memo last March also showed Sacks sold more than $200M in digital asset-related investments.

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