David Sacks is spearheading discussions on Trump’s cryptocurrency policies, focusing on “de-banking” and reversing asset liability rules.
According to the Washington Post, David Sacks, Trump’s AI and Crypto Czar, is leading discussions with cryptocurrency stakeholders to finalize key policies. These include addressing “de-banking” and repealing an accounting policy requiring banks to classify digital assets as liabilities. According to the Washington Post, Trump could issue executive orders on these matters immediately after taking office.
Crypto Venture Capitalists Strengthen Ties
Notably, Trump’s relationship with Silicon Valley has seen a notable transformation, with prominent tech figures aligning with his administration.
A December 20 luncheon at Mar-a-Lago titled “America First: The Future of Space, AI, and Tech” brought together tech investors and policymakers. Hosted by firms like 1789 Capital and Type One Ventures, the event featured discussions on innovation and policy. Attendees included the pro-crypto Marc Andreessen, Cathie Wood of Ark Invest, and several venture capitalists.
Per the Washington Post, speakers at the event discussed reversing Biden-era policies perceived as restrictive, particularly in artificial intelligence (AI). Plans to revoke Biden’s AI executive order, which mandated equity-focused AI, were highlighted.
Industry representatives emphasized that experienced technologists are better suited to regulate emerging technologies.
Crypto and AI to Highlight Inaugural Celebrations
Further reinforcing this collaboration, Trump’s inauguration will feature the first-ever “Crypto Ball,” hosted by David Sacks. The exclusive event, supported by sponsors such as Coinbase and MicroStrategy, highlights the administration’s pivot toward cryptocurrency.
Fox Business’ Eleanor Terrett noted that President-elect Donald Trump is not expected to attend the event. The exclusive VIP reception offers tickets at a price of $100,000 each, making it one of the most high-profile gatherings in Washington, D.C.
🚨NEW: During the inaugural #crypto ball next Friday there will also be a VIP reception hosted by Trump super PAC MAGA Inc, with AI & Crypto Czar @DavidSacks. I am told @realDonaldTrump will not be in attendance.
Tickets for the reception are going for $100,000 each or… https://t.co/yP8ByHh1VV
— Eleanor Terrett (@EleanorTerrett) January 11, 2025
For those seeking an enhanced experience, a premium package priced at $1 million is available. This package includes four tickets to the reception and an additional opportunity to attend a future dinner with President Trump.
Inaugural Donations
High-profile tech leaders, including Meta CEO Mark Zuckerberg, have also been involved in fostering relations with the incoming government. Meta made headlines with a $1 million donation to Trump’s inaugural fund, signaling a potential rapprochement after past tensions.
Ripple has taken a leading role in the cryptocurrency sector’s increased political contributions. The company recently contributed $5 million to support Trump’s inauguration fund.
Circle, the company behind the leading U.S.-issued stablecoin, USDC, has also emerged as a notable donor. On January 9, Circle revealed a $1 million donation, made entirely in USDC, to back Trump’s inauguration efforts.
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