6 Dec 2024, 06:39 AM IST US President-elect Donald Trump.(AP) Venture capitalist David Sacks is the first artificial intelligence and crypto czar of the United States. US President-Elect Donald Trump on Thursday announced the appointment of the former Paypal Chief Operating Officer to the newly created post. "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.," Trump said in a post on his social-media site Truth Social. David Sacks will be responsible for the policy formation in the field of AI and Cryptocurrency and ensure America's dominance in the two rapidly evolving areas. “David will guide policy for the Administration in Artificial Intelligence and Cryptocurrency, two areas critical to the future of American competitiveness. David will focus on making America the clear global leader in both areas,” Donald Trump said in a post to his Truth Social network on Thursday. Who is David Sacks? David Sacks was born in South Africa. The 52-year-old techie founded venture capital firm Craft Ventures and contributed in the development of PayPal, a payment processing firm that was acquired by eBay (EBAY.O.).