Ripple CEO Brad Garlinghouse has congratulated David Sacks on being appointed as Donald Trump’s AI and crypto CZAR. The appointment has bought a new wave of optimism in the crypto world, giving market participants a hope that the industry is set for positive reforms.
In his post on platform X, Garlinghouse wrote, “Huge congrats to David Sacks on this appointment”
He further showed his confidence upon the appointment by saying “he (David Sacks) understands tech inside and out, and importantly, will push forward President Trump’s crypto and AI pro-innovation plans.”
For the past one month, the Ripple CEO has been cheering all of Trump’s decision for top post elects.
Donald Trump Appoints David Sacks as Crypto CZAR
The appointment of former PayPal chief operating officer David Sacks as his “White House A.I. & Crypto Czar” was announced by US President-elect Donald Trump on Thursday December 5th, marking yet another step in the reform of U.S. policy.
Trump stated in a post on his social media platform Truth Social that “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.” Without specifying whether “czar” was an official title.
With the appointment, the nation’s policy on digital currency is anticipated to be reshaped by the crypto czar and other members of Trump’s incoming administration, including the chairs of the Securities and Exchange Commission and Commodity Futures Trading Commission, as well as a newly established crypto advisory council.
Trump’s supporters in the tech industry generally support less regulation of AI and cryptocurrencies like Bitcoin, arguing that Washington would stifle developing, creative industries with onerous regulations.
Trump Elects Pro-Crypto Advocates To Top Positions
The incoming US government is about to witness a a huge shift, with most top positions being held by pro-crypto advocates. Previously, Scott Bessent, a pro-crypto advocate, was nominated by Donald Trump to lead the US Treasury Department, one of the most influential government agencies with extensive control over public debt, international finance, taxation, and sanctions.
The news had also garnered a reaction from Brad Garlinghouse who gave one of the most significant responses. “It’s a perfect pick,” said Brad Garlinghouse, CEO of Ripple, in response to the appointment.
Garlinghouse was also optimistic about Donald Trump’s selection for the SEC chair. President-elect Donald Trump reportedly named Paul Atkins to lead the US Securities and Exchange Commission and suggested easing rules and enforcement for cryptocurrency-related hedge funds for four years.