David Sacks officially signed in as Crypto Czar via Trump EO

The executive order, titled, "Strengthening American Leadership in Digital Financial Technology," stated that "The digital asset industry plays a crucial role in innovation and economic development in the United States, as well as our Nation’s international leadership" and "it is therefore the policy of my Administration to support the responsible growth and use of digital assets, blockchain technology, and related technologies across all sectors of the economy."

Among the order’s components was the creation of the working group, which will be headed by Sacks, and will also include the Secretary of the Treasury, the Attorney General, the Secretary of Commerce, the Secretary of Homeland Security, and others.

Sacks joined Trump in the White House for the signing, saying the executive order would make America "the world capital in crypto under your leadership."

Trump told Sacks after the signing, "We’re gonna make a lot of money for the country."

Sacks was tapped by Trump in December to be the White House AI and Crypto Czar. "In this important role, David will guide policy for the Administration in Artificial Intelligence and Cryptocurrency," Trump said at the time, "two areas critical to the future of American competitiveness. David will focus on making America the clear global leader in both areas. He will safeguard Free Speech online, and steer us away from Big Tech bias and censorship. 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. David will also lead the Presidential Council of Advisors for Science and Technology."

"David Sacks has been an extremely successful entrepreneur and investor for 25 years, building and investing in some of the most iconic companies in Silicon Valley. He was PayPal’s founding-era COO, part of the legendary 'PayPal Mafia.' David then founded enterprise software company, Yammer, which was acquired by Microsoft for $1.2 Billion Dollars. Subsequently he founded Craft Ventures, a venture capital firm based in San Francisco. David is co-host of the All-In Podcast, the top podcast in Tech, where he and his friends discuss economic, political and social issues," Trump added.