The crypto czar denies role change: expected to spend half the time guiding policy in Washington

ChainCatcher news, AI and crypto czar David Sacks posted on the X platform denying reports of a role change: "Some traditional media reported tonight that my role has changed, which is completely false. I expect to spend half my time in Washington guiding policy and the other half in Silicon Valley."

Previously, according to Fortune, insiders from the transition team revealed that last week the position was downgraded from a leadership role to a general advisory role, partly because Sacks was unwilling to detach from the investment firm Craft Ventures and did not want to go through the formal appointment process. In the future, Michael Kratsios will lead the technology policy work, with Sacks providing policy ideas. Despite the change in position, Sacks remains influential, frequently active in Florida and San Francisco, and meeting with lawmakers. His appointment has sparked controversy over conflicts of interest, but some in Silicon Valley are optimistic, believing it may benefit startups, while others question his expertise and worry about the direction of policy.