(Reuters) - U.S. President-elect Donald Trump on Thursday said he was appointing former PayPal Chief Operating Officer David Sacks to be his White House Artificial Intelligence and Crypto Czar.

The "PayPal Mafia" alum will work to ensure the crypto industry has the legal framework and clarity it has been asking for, Trump said in a TruthSocial post.

XRP News: Donald Trump has nominated venture capitalist David Sacks as the “ White House AI & Crypto Czar .” The All-In Podcast co-host and former PayPal COO Sacks is known for favoring Ripple in the long-running US SEC lawsuit.

For much of 2024, one of President-elect Donald Trump’s staunchest allies in Silicon Valley was David Sacks, an entrepreneur, venture capitalist, and co-host of the popular podcast All-In. On his podcast and social media,

US President-elect Donald Trump late Thursday named former PayPal chief operating officer David Sacks as White House "AI and Crypto Czar."

From his days at Stanford and PayPal with the likes of Elon Musk, David Sacks is another Silicon Valley conservative in Trump's new orbit.

Trump announced that David O. Sacks will be the new White House AI and crypto czar in a post on Thursday night.

The tech investor made his money with early bets on Uber and other startups. He built his reputation as a conservative provocateur.

The second Trump administration is poised to be a powerful ally for the crypto industry. President-elect Donald Trump spoke highly of cryptocurrencies on the campaign trail, and his cabinet picks reflect that,

Not only is he a close friend of Elon Musk, who is leading a government efficiency committee for Trump, but Sacks has spent the last few years as one of the loudest voices supporting Trump from the upper echelons of Silicon Valley.