Dream of making America crypto capital
Bitcoin is at amazing heights these days. He is touching one lakh dollars. He is jumping every day in happiness of Trump. Actually there is a reason for this. Trump’s dream is to make America the ‘crypto capital’ of the world. He has already made this clear and is also setting up a proper team for this. Trump, who is crazy about crypto currencies like Bitcoin, recently appointed Paul Atkins, a staunch supporter of crypto, as the new head of the Securities and Exchange Commission (SEC). A day after this, Trump took another big step and appointed the former Chief Operating Officer (COO) of online payment system PayPal as the AI and Crypto Czar of the White House. Along with this, David Sachs will lead America’s Science and Technology Advisory Committee. This is a step like his election promise, in which he vowed to make America the crypto capital.
‘Bitcoin’ race is on between America and China
An amazing race for crypto currency is going on between America and China. Till some time ago, China used to be its uncrowned king, but now America has left it behind. Trump’s victory has breathed new life into America’s crypto market. The way Bitcoin is booming is the effect of Trump’s crypto mood. Trump is trying to win the trust of crypto investors through his policies and expert team. After Paul Atkins, the appointment of Sachs is now being considered as a step in the same direction.
Who is David Sachs?
David Sachs has been a highly successful entrepreneur and investor, having built and invested in some of Silicon Valley’s most prestigious companies. David was the COO of PayPal’s founding era. David then founded Yammer, an enterprise software company, which was acquired by Microsoft for $1.2 billion. He then founded Craft Ventures, a venture capital firm based in San Francisco. David is the co-host of the All-In Podcast, a top-tier podcast in tech, where he and his friends discuss economic, political, and social issues. David has the knowledge, business experience, intelligence and practicality to make America great in these two critical technologies.
What did Trump say on the appointment of AI and crypto czar?
America’s newly elected President Donald Trump is busy making appointments in many important departments after winning the elections. Meanwhile, Donald Trump on Thursday appointed David Sachs, former Chief Operating Officer of PayPal, as the White House Artificial Intelligence and Crypto Czar. Giving information about this, Trump said that he is appointing David Sachs as the White House Artificial Intelligence and Crypto Czar. In a post on his social-media site Truth Social, Trump said, “He will work on a legal framework so that the crypto industry can be treated as it demands, and it can thrive in America.”
I am pleased to announce that David O. Sacks will be the “White House AI & Crypto Czar.” In this important role, David will guide policy for the Administration in Artificial Intelligence and Cryptocurrency, two areas critical to the future of American competitiveness. David…
— Donald J. Trump Posts From His Truth Social (@TrumpDailyPosts) December 6, 2024
Trump told what work David will do
Trump said that I am happy to say that David O. Sachs White House A.I. And there will be crypto jars. In this important role, David will guide the administration’s policies in artificial intelligence and cryptocurrency, two sectors critical to the future of American competitiveness. David will focus on making America a global leader in both areas. He will protect free speech online, and keep us away from Big Tech bias and censorship. David will also lead the Presidential Advisory Council for Science and Technology.
How China got left behind in the crypto race
- Regulatory Crackdown: Strict restrictions on crypto mining and business forced them to leave China, forcing them to move to the US, where states like Texas offered cheap energy and favorable policies.
- Capital Control: The Chinese government’s strict limits on capital outflows clash with the borderless nature of cryptocurrencies, raising concerns over financial instability.
- Energy Concerns: The heavy energy consumption of Bitcoin mining clashes with China’s climate goals, prompting the government to crack down on operations that use renewable energy sources.
- Missed Opportunities: While China has focused on its central bank digital currency (CBDC), the digital yuan, its restrictions on private cryptocurrencies have stifled major innovation.
