David Sacks is a South African born American technology entrepreneur, investor, and public servant best known for senior roles in the PayPal era of Silicon Valley, the founding of enterprise social network Yammer, and the co-founding of venture capital firm Craft Ventures. In the crypto sector, Sacks has become a prominent policy voice through his appointment as the White House AI and crypto czar during President Donald Trump’s second administration, a role that has placed him at the center of debates on stablecoins, market structure legislation, and the federal government’s approach to holding digital assets.
Overview
Sacks’ relevance to crypto stems less from building a blockchain protocol directly and more from his position at the intersection of venture capital, payments infrastructure, media influence, and government policy. He has publicly emphasized regulatory clarity, the role of dollar backed stablecoins in payments, and the impact of banking access on digital asset businesses. His views are widely circulated through his public commentary and through the All In podcast, where he is a frequent commentator on technology markets and regulation.
History and Background
Born in Cape Town, South Africa, Sacks moved to the United States as a child and later studied economics at Stanford University before earning a law degree from the University of Chicago. His early career included management consulting before he joined Confinity, which became PayPal. This background, spanning product leadership and legal training, has shaped how he frames policy questions around compliance, market structure, and consumer protections.
- 1999 to 2002: Joined Confinity, later PayPal, and became COO, overseeing key product and operating functions.
- 2006 to 2012: Founded Geni.com and incubated Yammer, later acquired by Microsoft in 2012.
- 2017 onward: Co-founded Craft Ventures, investing primarily in software, fintech, and internet infrastructure.
- 2025 onward: Entered government as the White House AI and crypto czar, helping steer US digital asset policy.
Core Roles in Technology and Investing
At PayPal, Sacks was part of the group often described as the “PayPal Mafia,” alumni credited with launching or backing many major technology companies. After PayPal’s acquisition by eBay, he founded and led Yammer, which positioned itself as an enterprise communications layer adopted by large organizations. Following Yammer, he served as interim CEO of Zenefits during a period of operational and compliance restructuring, and later co-founded Craft Ventures.
Through Craft, Sacks has been associated with venture investing across technology categories, including payments and financial services. In the crypto context, venture exposure can create real or perceived conflicts when paired with policymaking, a theme that has surfaced repeatedly in public scrutiny of his government role.
Crypto Policy Role and Priorities
Sacks’ White House appointment was framed by the administration as a push toward clearer rules for digital assets and artificial intelligence. CryptoSlate has reported on his appointment and mandate to help develop a legal framework for crypto, as well as his involvement in convening industry stakeholders at a White House crypto summit. Donald Trump appoints David Sacks to lead AI and crypto policy in new administration and White House announces first crypto summit as Bitcoin bounces.
In early 2025, Sacks highlighted stablecoin legislation and evaluation of a US Bitcoin strategic reserve as priorities. Trump's crypto czar says Bitcoin reserve evaluation, stablecoin legislation top priorities for administration. CryptoSlate later covered the signing of the GENIUS Act as a milestone for stablecoin oversight. Trump signs GENIUS Act into law, activating America's first regulatory framework for stablecoins.
CryptoSlate also reported on an executive order establishing a Strategic Bitcoin Reserve and a broader Digital Asset Stockpile, with provisions that initially emphasized holding assets obtained through forfeiture rather than immediate market purchases. Trumps signs Bitcoin reserve order but won't buy more, for now.
Public Commentary and Market Influence
Sacks’ commentary has at times moved markets, particularly around narratives tied to which assets may receive favorable regulatory treatment. CryptoSlate reported his view that markets were “reading too much” into President Trump mentioning certain altcoins, a reminder that public statements from senior policymakers can have outsized impact in thinly regulated markets. David Sacks says market reading too much into Trump mentioning altcoins.
He has also weighed in on banking supervision and access, describing regulators’ use of subjective “reputational risk” standards as a driver of debanking concerns. FDIC ends use of reputational risk criteria, Crypto Czar calls it a big win.
Risks and Considerations
Sacks’ dual identity as a venture investor and government advisor has drawn ongoing ethics and transparency scrutiny. CryptoSlate has reported on letters from Senator Elizabeth Warren and other lawmakers seeking clarity on his holdings, divestments, and the limits of his temporary government status. Elizabeth Warren questions Crypto Czar David Sacks’ cryptocurrency profits amid market swings and Elizabeth Warren raises ethics concerns over White House crypto czar David Sacks’ tenure.
Sacks has publicly described divestment as an ethics requirement rather than a market call, but questions remain a recurring theme in coverage as the administration advances major policy changes. Trump’s crypto czar slams media for misrepresenting divestment as dump. For market participants, his role illustrates a broader risk: policy direction can shift quickly, and narratives around regulation, reserves, and enforcement priorities can affect liquidity and valuations across assets such as Bitcoin, Ethereum, and Solana.
