President Donald Trump is strengthening political alliances with Silicon Valley through pro-virtual asset policies, with a notable alliance being that with investor David Sachs, a founder from Silicon Valley.
According to major foreign media such as The Washington Post on the 14th, David Sachs serves as the special advisor for artificial intelligence (AI) and virtual asset policies in the Trump administration. His main occupation is a technology investor based in Silicon Valley.
Born in South Africa and immigrating to Tennessee, Sachs gained recognition in 1995 while studying at Stanford University, co-authoring "The Diversity Myth" with Peter Thiel. This book addresses the debate on political correctness and is considered prescient of today's core issues in conservative politics. Later, he participated in founding PayPal and established the corporate social networking service Yammer, which was sold to Microsoft for $1.2 billion (approximately 1.7 trillion won) after PayPal was sold to eBay.
Having nurtured large startups twice, he co-founded the venture capital firm Craft Ventures to actively engage in investment business. He maintains a close relationship with Tesla CEO Elon Musk, investing in Tesla, SpaceX, and actively investing in AI and virtual asset startups. Meanwhile, as a co-host of the podcast "All-In," he discusses business, investment, and politics, establishing himself as a speaker representing the conservative faction in Silicon Valley, which has historically leaned toward the Democratic Party.
Through his close alliance with President Trump, he successfully entered the White House, gaining control over U.S. AI and virtual asset policy decisions.
According to The Washington Post, during the last presidential election, President Trump attended a dinner held at Sachs' home in San Francisco. At this event, figures from the virtual asset industry reportedly requested Trump's support, claiming they were being politically suppressed by the Biden administration. After previously labeling virtual assets as "frauds," President Trump shifted to a position of full support for the virtual asset industry following this meeting.
The Washington Post noted, "This dinner became a turning point for both President Trump and Sachs, solidifying their political alliance further." It also stated, "Sachs mobilized figures in Silicon Valley to assist President Trump's election. Subsequently, President Trump brought him into the White House to lead policies in the AI and virtual asset sectors."
Shortly after taking office early this year, President Trump and Sachs signed two executive orders related to AI and virtual assets. As a result, the Department of Justice dismantled its dedicated virtual asset investigation unit, and the Securities and Exchange Commission (SEC) halted or suspended more than 12 lawsuits related to virtual asset companies. The Federal Deposit Insurance Corporation (FDIC) decided to ease assessments for banking transactions with virtual asset companies. The administration designated the Bitcoin and other digital assets seized by the government as strategic reserves.
After signing the executive orders with Sachs, President Trump stated, "They will bring in a lot of money for the country. David (Sachs) is the same. You won't find another like him." Sachs praised the Trump administration, saying, "It moves as quickly as technology develops. It's really amazing, much faster than any startup I've been involved in."
According to The Washington Post, Sachs has influence over President Trump beyond just AI and virtual assets. He exercised influence to lobby for Trump appointing J.D. Vance as vice president. One individual from the virtual asset industry remarked about him, "I thought he was there to do policy work (at the White House), but in reality, he's engaging in politics."