Donald Trump has created a new White House position overseeing the administration's artificial intelligence and cryptocurrencies. He believes these areas are “critical” to future U.S. competitiveness.

David Sachs, the head of the venture capital firm Craft Ventures, who played a key role in raising funds for the Trump campaign, according to Bloomberg, has been appointed to the leadership position.

◽️Sachs is a member of the so-called “PayPal Mafia” - in the 2000s he worked as the company’s chief operating officer.

◽️Craft invested in Multicoin, the main sponsor of Solana. Sachs continued to hold SOL even after the collapse of FTX and believed that the asset could eventually outperform Ethereum. In October 2022, he claimed a $1 billion equivalent position in the coin.

◽️Craft Ventures' portfolio also includes investments in dYdX, BitGo, Bitwise and Lightning Labs.

◽️Sachs believes in 0x Protocol and is an advisor to the project (after the appointment, ZRX quotes increased by 25%). He also believes that Bitcoin is a tool to combat the traditional financial system and centralization, and DeFi can make it more transparent.