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Trump Appoints Former PayPal Exec David Sacks as AI and Crypto Czar

US businessman David Sacks speaks during the first day of the 2024 Republican National Convention in Milwaukee, Wisconsin, on July 15, 2024 (AFP).
US businessman David Sacks speaks during the first day of the 2024 Republican National Convention in Milwaukee, Wisconsin, on July 15, 2024 (AFP).
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Trump Appoints Former PayPal Exec David Sacks as AI and Crypto Czar

US businessman David Sacks speaks during the first day of the 2024 Republican National Convention in Milwaukee, Wisconsin, on July 15, 2024 (AFP).
US businessman David Sacks speaks during the first day of the 2024 Republican National Convention in Milwaukee, Wisconsin, on July 15, 2024 (AFP).

US President-elect Donald Trump on Thursday said he was appointing former PayPal Chief Operating Officer David Sacks as his "White House A.I. & Crypto Czar," another step towards overhauling US policy.
"He will work on a legal framework so the Crypto industry has the clarity it has been asking for, and can thrive in the US," Trump said in a post on his social-media site Truth Social, without saying whether "czar" was an official title.
The crypto czar and other officials in Trump's incoming administration such as the chairs of the Securities and Exchange Commission and Commodity Futures Trading Commission are expected to reshape US policy on digital currency along with a newly created crypto advisory council.
Trump's tech backers generally want to see minimal regulation around artificial intelligence and cryptocurrencies such as bitcoin, saying Washington would throttle growing innovative sectors with excessive rules.
Elad Gil, an entrepreneur who has invested in companies such as Airbnb and the cryptocurrency platform Coinbase, called the choice of Sacks a "strong move" in a post on X. OpenAI CEO Sam Altman wrote on X, "congrats to czar @DavidSacks!"
"Sacks will likely have a light touch on regulation, but not without some guardrails," Steve Jang, founder of Kindred Ventures, told Reuters. Jang has co-invested with Sacks in both cryptocurrency and AI startups.
He predicted that Sacks will prioritize regulating how AI is used in certain critical applications instead of focusing on regulating the development of the AI models themselves. This distinction was a key point of contention for Silicon Valley investors who vehemently opposed California's unsuccessful SB 1047 bill, which sought to regulate AI model development.
Trump announced on Wednesday that he was nominating prominent Washington lawyer and crypto advocate Paul Atkins to lead the SEC, in a move celebrated by the industry.
Trump - who once labeled crypto a scam - embraced digital assets during his campaign, promising to make the United States the "crypto capital of the planet" and to accumulate a national stockpile of bitcoin.
Bitcoin broke $100,000 for the first time on Wednesday night, a milestone hailed even by skeptics as a coming-of-age for digital assets as investors bet on a friendly US administration to cement the place of cryptocurrencies in financial markets.
Matthew Dibb, chief investment officer at cryptocurrency asset manager Astronaut Capital, described the news as extremely bullish. "David has had somewhat of a hands-on approach to crypto over the years, at times holding coins such as solana. He appears to be a lot more technically and commercially competent regarding crypto than most would think," Dibb said.
Born in South Africa, Sacks, 52, is a co-founder of venture capital firm Craft Ventures and an early leader of PayPal, a payment processing firm that was acquired by eBay in 2002.
Sacks is considered a member of the "PayPal Mafia" of former workers and executives at the digital finance firm that includes prominent Trump supporters Peter Thiel and Elon Musk.
Musk, the Tesla CEO who leads artificial intelligence startup xAI, is a crypto fan and was appointed by Trump as co-lead of the new Department of Government Efficiency. The advisory board to streamline government is nicknamed DOGE, the name of a cryptocurrency.
Sacks is also a former chief executive of software company Zenefits and founded Yammer, a social network for enterprise users.
He was an early evangelist of cryptocurrencies, telling CNBC in a 2017 interview that he believed the rise of bitcoin, the world's largest cryptocurrency, was revolutionizing the internet.
"It feels like we are witnessing the birth of a new kind of web. Some people have called it the decentralized web or the internet of money," he said.
Trump said Sacks will also lead a White House advisory council on science and technology.

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World

Russia Hits Energy System in Several Regions of Ukraine, Kyiv Says

Local residents gather around a bonfire during an outdoor party to keep warm as many apartments remain without heating in Kyiv on January 18, 2026, amid the Russian invasion of Ukraine. (AFP)
Local residents gather around a bonfire during an outdoor party to keep warm as many apartments remain without heating in Kyiv on January 18, 2026, amid the Russian invasion of Ukraine. (AFP)
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Russia Hits Energy System in Several Regions of Ukraine, Kyiv Says

Local residents gather around a bonfire during an outdoor party to keep warm as many apartments remain without heating in Kyiv on January 18, 2026, amid the Russian invasion of Ukraine. (AFP)
Local residents gather around a bonfire during an outdoor party to keep warm as many apartments remain without heating in Kyiv on January 18, 2026, amid the Russian invasion of Ukraine. (AFP)

Russia launched a barrage of drone strikes on Ukraine's energy infrastructure overnight on Monday, cutting off power in five regions ​across the country amid freezing temperatures and high demand, Ukrainian officials said.

The Ukrainian air force said that Russian troops had launched 145 drones. Air defense units shot down 126 of them, it said.

"As of this morning, consumers in Sumy, Odesa, Dnipropetrovsk, Kharkiv, and Chernihiv regions are without power," the energy ministry said in a statement. "Emergency repair ‌work is ‌underway if the security situation ‌allows."

In ⁠the ​southern ‌Odesa region, energy and gas infrastructure was damaged, the regional governor said, adding that one person was hurt in the attack.

DTEK, Ukraine's largest private energy company, said its energy facility in Odesa was "substantially" damaged, knocking out power for 30,800 households.

A local power grid company in northern Chernihiv region said that ⁠five important energy facilities were damaged, leaving tens of thousands of consumers ‌without power.

Russia also hit Ukraine's second-largest ‍city of Kharkiv with missiles ‍on Monday morning, significantly damaging a critical infrastructure facility, ‍Mayor Ihor Terekhov said.

Moscow has stepped up a winter campaign of strikes on the Ukrainian energy system, including generation, electricity transmission and gas production facilities, amid freezing temperatures that complicate repair works.

The ​attacks have caused long blackouts.

"Being without electricity for more than 16 hours is awful," Serhii Kovalenko, ⁠CEO of energy distribution company Yasno, said on Facebook late on Sunday. "And it's not because of the energy companies, but because of cynical attacks by the enemy, who is trying to create a humanitarian disaster."

Ukraine declared an energy emergency last week as its grid crumbled due to accumulated wartime damage and a new targeted wave of Russian bombardments.

Energy Minister Denys Shmyhal said on Monday the government would implement projects to improve electricity transmission from the western part ‌of the country to its power-hungry east.

World

‘Not Right’ for Iran to Attend Davos Summit After Deadly Protests, Say Organizers

Iranian Foreign Minister Abbas Araghchi speaks in a joint press briefing with his Iraqi counterpart Fuad Hussein in Tehran, Iran, Sunday, Jan. 18, 2026. (AP)
Iranian Foreign Minister Abbas Araghchi speaks in a joint press briefing with his Iraqi counterpart Fuad Hussein in Tehran, Iran, Sunday, Jan. 18, 2026. (AP)
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‘Not Right’ for Iran to Attend Davos Summit After Deadly Protests, Say Organizers

Iranian Foreign Minister Abbas Araghchi speaks in a joint press briefing with his Iraqi counterpart Fuad Hussein in Tehran, Iran, Sunday, Jan. 18, 2026. (AP)
Iranian Foreign Minister Abbas Araghchi speaks in a joint press briefing with his Iraqi counterpart Fuad Hussein in Tehran, Iran, Sunday, Jan. 18, 2026. (AP)

Iran's foreign minister will not be attending the Davos summit in Switzerland this week, the organizers said Monday, stressing it would not be "right" after the recent deadly crackdown on protesters in Iran.

Abbas Araghchi had been scheduled to speak on Tuesday during the annual gathering of the global elite at the upscale Swiss ski resort town.

But activists have been calling on the World Economic Forum organizers to disinvite him amid what rights groups have called a "massacre" in his country.

"The Iranian Foreign Minister will not be attending Davos," the World Economic Forum said on X.

"Although he was invited last fall, the tragic loss of lives of civilians in Iran over the past few weeks means that it is not right for the Iranian government to be represented at Davos this year," it added.

Demonstrations sparked by anger over economic hardship exploded into protests late December in what has been widely seen as the biggest challenge to the Iranian leadership in recent years.

The rallies subsided after a government crackdown under the cover of a communications blackout that started on January 8.

Norway-based Iran Human Rights says it has verified the deaths of 3,428 protesters killed by security forces, confirming cases through sources within the country's health and medical system, witnesses and independent sources.

The NGO warned that the true toll is likely to be far higher. Media cannot independently confirm the figure and Iranian officials have not given an exact death toll.

World

Iran to Consider Lifting Internet Ban; State TV Hacked

People walk past a burnt-out building destroyed during public protests in the Iranian capital Tehran on January 19, 26. (AFP)
People walk past a burnt-out building destroyed during public protests in the Iranian capital Tehran on January 19, 26. (AFP)
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Iran to Consider Lifting Internet Ban; State TV Hacked

People walk past a burnt-out building destroyed during public protests in the Iranian capital Tehran on January 19, 26. (AFP)
People walk past a burnt-out building destroyed during public protests in the Iranian capital Tehran on January 19, 26. (AFP)

Iran may lift its internet blackout in a few days, a senior parliament member said on Monday, after authorities shut communications while they used massive force to crush protests in the worst domestic unrest since ​the 1979 revolution.

In the latest sign of weakness in the authorities' control, state television appeared to be hacked late on Sunday, briefly showing speeches by US President Donald Trump and the exiled son of Iran's last shah calling on the public to revolt.

Iran's streets have largely been quiet for a week since anti-government protests that began in late December were put down in three days of mass violence.

An ‌Iranian official ‌told Reuters on condition of anonymity that the ‌confirmed ⁠death ​toll ‌was more than 5,000, including 500 members of the security forces, with some of the worst unrest taking place in ethnic Kurdish areas in the northwest. Western-based Iranian rights groups also say thousands were killed.

Opponents accuse the authorities of opening fire on peaceful demonstrators to crush dissent. Iran's clerical rulers say armed crowds egged on by foreign enemies attacked hospitals and mosques.

The death tolls dwarf ⁠those of previous bouts of anti-government unrest put down by the authorities in 2022 and 2009. ‌The violence drew repeated threats from Trump ‍to intervene militarily, although he has backed ‍off since the large-scale killing stopped.

INTERNET TO RETURN WHEN 'CONDITIONS ARE APPROPRIATE'

Ebrahim ‍Azizi, the head of parliament's National Security and Foreign Policy Committee, said top security bodies would decide on restoring internet in the coming days, with service resuming "as soon as security conditions are appropriate".

Another parliament member, hardliner Hamid Rasaei, said authorities should ​have listened to earlier complaints by Supreme Leader Ali Khamenei about "lax cyberspace".

Iranian communications including internet and international phone lines were ⁠largely stopped in the days leading up to the worst unrest. The blackout has since partially eased, allowing accounts of widespread attacks on protesters to emerge.

During Sunday's apparent hack into state television, screens broadcast a segment lasting several minutes with the on-screen headline "the real news of the Iranian national revolution".

It included messages from Reza Pahlavi, the US-based son of Iran's last shah, calling for a revolt to overthrow rule by the clerics who have run the country since the 1979 revolution that toppled his father.

Pahlavi has emerged as a prominent opposition voice and has said he plans ‌to return to Iran, although it is difficult to assess independently how strong support for him is inside Iran.