David Sacks, the newly appointed White House AI and Crypto Czar, has drawn renewed attention from the XRP community due to his past remarks on the SEC v. Ripple case. His comments, made during a July 14, 2023 episode of the All-In Podcast, resurfaced after President-elect Donald Trump named him to the prominent role on December 6, 2024.
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Listen to @realDonaldTrump new Crypto Czar, David Sachs, discuss the @Ripple and $XRP ruling.“They won” https://t.co/Gs8eYUNb4w pic.twitter.com/xYl9JL1ffY
— Cowboy.X (@cowboycrypto313) December 6, 2024
In the podcast, Sacks celebrated Judge Analisa Torres’ ruling, issued a day prior, as a critical victory for Ripple and the broader crypto industry. The court determined that Ripple’s XRP sales on public exchanges did not constitute investment contracts, refuting key claims made by the SEC. Sacks praised the judgment as validation that XRP is not a security and does not fall under SEC oversight.
Sacks also pointed out the market’s immediate reaction, with XRP’s price surging by 35% following the announcement. He described the court’s decision as a “big win for crypto,” reiterating his pro-crypto stance in a separate post on X (formerly Twitter).
The discussion wasn’t without dissent. Podcast co-host Jason challenged Sacks, arguing the ruling wasn’t entirely favourable for Ripple. While sales on public exchanges were exempt from securities laws, the court ruled that Ripple’s direct sales to institutional investors did qualify as securities transactions.
RELATED: Ripple Labs to Challenge U.S. SEC Appeal on XRP’s Non-Security Status
Sacks’ pro-crypto perspective has since sparked optimism within the XRP community, particularly as he steps into his White House role. As the first-ever Crypto and AI Czar, Sacks will lead efforts to shape policies for cryptocurrency and artificial intelligence. His responsibilities include chairing the Presidential Council of Advisors for Science and Technology, with a focus on fostering innovation and maintaining the U.S.’s edge in emerging technologies.
President-elect Trump lauded Sacks as a visionary leader in his announcement and underscored his expertise in advancing technological progress.
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