8 sources·Business

David Sacks Appointed As Trump’s AI and Crypto Czar Amid Market Concerns

With Bitcoin surpassing $100,000, Trump's new AI and crypto czar David Sacks promises leadership while experts warn of market bubbles.

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Updated: Dec 6th, 2024, 6:20 PM ET

Summary

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David Sacks has been appointed by President-elect Trump as White House advisor for AI and cryptocurrency. Amidst Bitcoin crossing the $100,000 mark, experts warn of a potential market bubble, with strategist Michael Hartnett highlighting the 'frothy' S&P 500 valuations. Sacks aims to lead U.S. efforts in these sectors, focusing on creating clear legal frameworks. The new SEC chair, Paul Atkins, is also expected to influence crypto regulations that could impact the market significantly. Sacks’ connections in Silicon Valley and support for Trump are notable, as his role may shape the future of AI and digital currencies in the U.S.

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