Trump officials did not respond when asked to clarify whether the new position would be internal to the government or whether Sacks would act as a “special government employee,” allowing him to continue in other private sector roles. Sacks did not respond to a request for comment.
Sacks first made a name for himself as an early employee at payments technology company PayPal, which he built alongside Elon Musk, Peter Thiel, Reid Hoffman and others. Like other members of the so-called “PayPal mafia”, Sacks created many other business ventures. In 2012, it sold workplace software company Yammer to Microsoft in a agreement valued at 1.2 billion dollars. He now runs his own venture capital firm, Craft Ventures, which has previously invested at companies like Airbnb, Palantir, and Slack, as well as crypto companies BitGo and Bitwise.
Sacks also co-hosts the popular podcast “All In,” where he used the platform to boost Trump. He has also shared a number of right-wing views: at the podcast summit in September this year, Sacks questioned the effectiveness of the vaccine for COVID-19.
Like Musk, Sacks was a staunch supporter of Trump during the presidential race. in a x publication In June, he laid out his own Silicon Valley reasoning: “Voters have experienced four years of President Trump and four years of President Biden. In tech, we call this A/B testing,” he wrote. “On economic policy, foreign policy, border policy and legal justice, Trump performed better. “He is the president who deserves a second term.”
That same month, Sacks organized an exclusive fundraiser for the Trump campaign, which reportedly generated up to $12 million. Attendees reportedly included Vice President-elect JD Vance, who previously described Sacks as “one of my closest friends in the tech world,” and Cameron and Tyler Winklevoss, co-founders of crypto exchange Gemini.
In the weeks since Trump took back the Oval Office, the crypto markets have been in full swing. During the race, the president-elect made a number of pro-cryptocurrency promises, including creating a national “bitcoin reserve.” In Sacks, Trump has chosen a czar who the cryptocurrency industry believes will deliver on his campaign promises.
On December 6, the price of bitcoin. jumped beyond $100,000 for the first time. “You’re welcome!!! (sic)” Trump aware about social truth.