The crypto industry has responded positively to Trump's selection of administration staffers, with bitcoin surpassing $100,000 for the first time following the appointment of crypto enthusiast Paul Atkins as SEC chair. Industry leaders believe that Sacks will strengthen the US crypto industry, which has previously lagged behind Europe. They also anticipate that his leadership could reverse the exodus of crypto businesses from the US and create a business-friendly framework that allows blockchain innovation to thrive.
Key takeaways:
- President-elect Donald Trump has appointed David Sacks, a former PayPal executive and venture capitalist, as his crypto and artificial intelligence czar.
- Sacks' appointment has been met with approval from tech leaders and venture capitalists, who believe it could boost US competitiveness in the crypto and AI industries.
- Bitcoin surged past $100,000 for the first time following the appointment of crypto enthusiast Paul Atkins as the chair of the SEC.
- Industry leaders believe Sacks' leadership could help reverse the exodus of crypto businesses from the US and create a clear, business-friendly framework for blockchain innovation.