US President-elect Donald Trump on Thursday said he was appointing former PayPal Chief Operating Officer David Sacks as his artificial intelligence and cryptocurrency czar, another step toward overhauling US policy.
“He will work on a legal framework so the Crypto industry has the clarity it has been asking for, and can thrive in the US,” Trump said in a post on his social-media site Truth Social.
The crypto czar and other officials in Trump’s incoming administration such as the chairs of the Securities and Exchange Commission and Commodity Futures Trading Commission are expected to reshape US policy on digital currency along with a newly created crypto advisory council.
Trump’s tech backers generally want to see minimal regulation around AI and cryptocurrencies such as bitcoin, saying Washington would throttle growing innovative sectors with excessive rules.
Trump announced on Wednesday that he was nominating prominent Washington lawyer and crypto advocate Paul Atkins to lead the SEC, in a move celebrated by the industry.
Trump — who once labeled crypto a scam — embraced digital assets during his campaign, promising to make the United States the “crypto capital of the planet” and to accumulate a national stockpile of bitcoin.
Bitcoin broke $100,000 for the first time on Wednesday night, a milestone hailed even by skeptics as a coming-of-age for digital assets as investors bet on a friendly US administration to cement the place of cryptocurrencies in financial markets.
Born in South Africa, Sacks, 52, is a co-founder of venture capital firm Craft Ventures and an early leader of PayPal, a payment processing firm that was acquired by eBay in 2002.
Sacks is also a former chief executive of software company Zenefits and founded Yammer, a social network for enterprise users.
He was an early evangelist of cryptocurrencies, telling CNBC in a 2017 interview that he believed the rise of bitcoin, the world’s largest cryptocurrency, was revolutionizing the Internet.
“It feels like we are witnessing the birth of a new kind of web. Some people have called it the decentralized web or the Internet of money,” he said.
Trump said Sacks will also lead a White House advisory council on science and technology.
Trump appoints former PayPal COO David Sacks as AI and crypto czar
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Trump appoints former PayPal COO David Sacks as AI and crypto czar
Winter storm snarls US holiday travel
- The National Weather Service warned of hazardous travel conditions from the Great Lakes through the northern mid-Atlantic and southern New England, with the potential for tree damage and power outages
BOSTON: More than a thousand flights were canceled or delayed across the Northeast and Great Lakes regions due to snow as thousands took to US roads and airports during the busy travel period between Christmas and New Year’s.
As of Saturday morning, New York City had received just under three inches of snow — roughly half of what some forecasts had predicted.
At least 1,500 flights were canceled from Friday night into Saturday, according to flight-tracking service FlightAware.
Newark Liberty International Airport, John F. Kennedy International Airport and LaGuardia Airport posted snow warnings on the social media platform X, cautioning that weather conditions could cause flight disruptions.
The National Weather Service warned of hazardous travel conditions from the Great Lakes through the northern mid-Atlantic and southern New England, with the potential for tree damage and power outages. Forecasters said the storm was expected to weaken by Saturday morning.
Ahead of the storm, New York Gov. Kathy Hochul declared a state of emergency for more than half of the state. Acting New Jersey Gov. Tahesha Way declared a state of emergency for all of New Jersey, “due to a severe winter storm causing dangerous weather conditions, including heavy snow, sleet, and freezing rain.”
“This storm will cause dangerous road conditions and impact holiday travel,” Way said in a statement. “We are urging travelers to avoid travel during the storm and allow crews to tend to the roads. Drivers should plan their travel accordingly, monitor conditions and road closures, and follow all safety protocols.”
