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Julia Smith
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Julia Smith
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Ripple CEO Brad Garlinghouse congratulated venture capitalist David Sacks on his appointment as the newly created White House AI and crypto czar, which was announced this week.
Ripple CEO Congratulates David Sacks On Role
According to a December 6 X post by Garlinghouse, the Ripple CEO praised Sacks and his new role under President-elect Donald Trump, referring to the duo as a “dream team.”
“Huge congrats to @DavidSacks on this appointment – he understands tech inside and out, and importantly, will push forward President Trump’s crypto and AI pro-innovation plan,” Garlinghouse stated.
Trump announced the South African-born businessman’s appointment to the new role late Thursday, noting that Sacks will A.I. and cryptocurrency policy during the former reality television star’s second term in the Oval Office.
“He will work on a legal framework so the crypto industry has the clarity it has been asking for and can thrive in the U.S.,” Trump said in a December 5 Truth Social post announcing the news.
Brad Garlinghouse’s Legal Fight Against The SEC
Garlinghouse’s Ripple Labs has long been involved in a dispute with the United States Securities and Exchange Commission (SEC) over allegedly violating the country’s federal securities law.
Many in the crypto community see the commission’s enforcement actions against Ripple as excessive. The federal regulator is also doling out litigation against several key players in the crypto industry, including Kraken and Coinbase.
SEC chair Gary Gensler has been largely condemned for his regulation-by-enforcement approach to the blockchain sector as a whole. However, he has since announced his decision to depart the regulator ahead the former reality television star’s inauguration on January 20.
In his farewell statement, Gensler acknowledged that “the Securities and Exchange Commission is a remarkable agency. It has been an honor to serve with them on behalf of everyday Americans.”
Trump, who previously pledged to fire the agency’s head, has since announced Gensler’s replacement as crypto-friendly former SEC Commissioner Paul Atkins.
Atkins is widely expected to take a softer, more balanced approach to digital assets.
Sacks, meanwhile, is a Silicon Valley veteran who will seemingly enact a blockchain-friendly regulatory framework.
The appointment of several pro-crypto proponents will virtually ensure that Trump fulfills his promise to introduce cryptocurrency policies that benefit the sector.
However, it remains to be seen exactly what those guidelines will look like.
