David Sacks Won't Be Trump's AI and Crypto Czar; Here's What It's All About

Even before the start of US President-elect Donald Trump’s second term, the once “AI and Crypto Czar” David Sacks has already found himself out of office. Recently, Trump nominated Sacks as the White House’s first cryptocurrency and AI czar. The move, announced by Trump on December 5, marked a significant step in shaping national policy on emerging technologies.

David Sacks is a former chief operating officer of PayPal and a major proponent of the cryptocurrency Solana (SOL), as well as a supporter of the crypto investment firm Multicoin Capital. Sacks is known in the industry for being a major Solana investor and, in addition, he stands out for his strong interest in cryptocurrencies and AI, which is a strong point for him being Trump's choice for the position.

However, according to information da Fortune, he will no longer lead the newly created President's Council of Advisors on Science and Technology. Under the new arrangement, Sacks' role has been reduced to an advisory position in the Trump administration.

According to the publication, the measure was caused by two strong reasons: Sacks' refusal to completely divest himself of his investment company, Craft Ventures, as well as his insistence on maintaining links with the private sector.

A source for the report said on the matter that: “They realized they needed someone who could run the operations full time.”

After losing his role as “AI and Crypto Czar” under the new administration, Sacks will now have a new role that is classified as “special government employee.” This role allows him to continue running his investment firm while also advising the government.

Michael Kratsios, Trump's former chief technology officer, will take over the role to lead the government's technology efforts, with the assistance of Gale Slater, who will focus on telecommunications and antitrust issues.