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Trump nominated Sachs as the "king" of cryptocurrencies. 
US President-elect Donald Trump announced the creation of a new position in the administration of a special representative on artificial intelligence (AI) and digital currency. 
He proposed David Sachs, an economist and former chief executive of PayPal, for this post, calling him the "tsar of the White House" on AI and cryptocurrency, Reuters reports. 
As the newspaper notes, the businessman is a member of the so-called "PayPal Gang". This is an informal association of former employees and founders of the company who are engaged in the crypto business. It also includes other Trump supporters, namely Peter Thiel and Elon Musk.

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