US President-elect Donald Trump named former PayPal chief operating officer David Sacks as White House "AI and Crypto Czar".
The wealthy tech entrepreneur will take on a newly created role advising the Trump administration on cryptocurrency and artificial intelligence.
"David will guide policy for the Administration in Artificial Intelligence and Cryptocurrency, two areas critical to the future of American competitiveness," Mr Trump said in a social media post.
"He will safeguard Free Speech online and steer us away from Big Tech bias and censorship," he added.
Mr Sacks will also lead a presidential council of advisers on science and technology, according to Mr Trump.
The entrepreneur, whose wealth has been estimated in the billions of dollars, is considered part of a so-called "PayPal Mafia" cadre of influential tech entrepreneurs that includes Elon Musk and Peter Thiel.
The group was part of that company's founding era and members have thrown their clout behind conservative political policies and candidates.
Mr Sacks backed JD Vance as Mr Trump's running mate in the recent US presidential election, hosting Mr Vance on his podcast in the process.
After PayPal was bought by eBay in 2002, Mr Sacks went on to help create other tech firms including Yammer, which was bought by Microsoft.
Mr Sacks, who like Mr Musk was born in South Africa, also took to investing in startups.
Bitcoin breached $100,000 before dipping back below the symbolically important level.
The digital asset has now soared more than 50% since the election of Mr Trump, who has vowed to make the United States the "bitcoin and cryptocurrency capital of the world".
The historic level was broken after Mr Trump picked crypto proponent Paul Atkins to take over as chair of the Securities and Exchange Commission, the markets regulator.
Mr Atkins "is unlikely to be as anti-crypto as his predecessor Gary Gensler," said Kathleen Brooks, research director at the XTB trading platform.
"Politics is driving bitcoin. We doubt that the rally will stop here," she added.
Musk meetings
Mr Musk met with US politicians yesterday to discuss his plans for overseeing radical government spending cuts under the incoming administration.
Mr Trump rewarded the Tesla, X and SpaceX chief for his support during the White House campaign by naming him head of the newly created Department of Government Efficiency, along with another wealthy ally, Vivek Ramaswamy.
Although the office, dubbed DOGE, has a purely advisory role, Mr Musk's star power and intense influence in Mr Trump's inner circle bring political clout.
During Mr Trump's election campaign, Mr Musk vowed to reduce federal spending by $2 trillion.
This would represent cutting total US spending by a third, almost certainly meaning devastation of social support programs - something that has never garnered strong political backing.
Mr Musk's new role raises the question of potential conflicts of interest, since he could be issuing policy recommendations that impact directly on his own business empire.
Underlining the close connection to DOGE, Mr Musk's favorite cryptocurrency is called Dogecoin.
US Ambassador to China pick
Mr Trump also named political ally and former Georgia senator David Perdue as his pick to be ambassador to China, a key trade partner the Republican has promised to impose punishing tariffs on.
"Tonight, I am announcing that former US Senator, David Perdue, has accepted my appointment as the next United States Ambassador to the People's Republic of China," Mr Trump wrote on social media.
Mr Perdue, 74, a business executive and politician, served as a senator for Georgia from 2015 to 2021, and failed in a bid for governor of the state in 2022.
If confirmed by the Senate, Mr Perdue will play a key role in managing the relationship between the United States and China, the world's two largest economies.
A Mr Trump ally, he backed the former president's false claims regarding alleged fraud in the 2020 presidential election, which the billionaire Republican lost to Joe Biden.
