Trump names ex-PayPal COO David Sacks as AI and crypto czar

President-elect Donald Trump has named David Sacks, former COO of PayPal ( NASDAQ: PYPL ), as his "White House A.I. & Crypto Czar" to guide policy in the emerging technologies. "He will safeguard free speech online, and steer us away from Big Tech bias and censorship," Trump said in a post on his social media app Truth Social. "He will work on a legal framework so the crypto industry has the clarity it has been asking for, and can thrive in the U.S." Sacks, a South African-born American entrepreneur, will also lead the Presidential Council of Advisors for Science and Technology. Sacks is part of the so-called "PayPal Mafia," referring to former PayPal ( PYPL ) staff and founders who went on to start other tech companies. The group includes prominent Trump supporters - Tesla ( TSLA ) CEO Elon Musk and Palantir ( PLTR ) chairman Peter Thiel. Trump's administration is expected to reshape U.S. crypto policy and bring a friendlier regulatory environment. Trump this week nominated crypto advocate Paul Atkins to head the SEC, pushing bitcoin ( BTC-USD ) past $100,000 for the first time ever . More on Trump 2.0 Fiserv stock slides after CEO nominated for Trump post Trump nominates Atkins to succeed Gensler as SEC chair Enemies to friends? Mark Zuckerberg wants 'active role' in Trump's tech policies