David Sacks Crowned as the Hilariously Imposing ‘Czar’ of the Crypto Kingdom

“The Crypto Industry Hails David Sacks, Its New ‘Czar’”

“Silicon Valley veteran David Sacks, who left his role as general partner at venture capital firm Craft Ventures to take on a regulatory role in the US Government, has been warmly embraced by the cryptocurrency industry. Word of his appointment was greeted with tweets of approval from high-profile figures in the industry.”

You have to love it when a titan of tech lands a government gig. The synergistic blend of bureaucracy and blockchain, ladies and gentlemen, is nothing short of magical. It seems that crypto gurus threw a virtual party recently, relishing in Twitter jubilation as former Craft Ventures lead, David Sacks, walked the golden (or shall we say ‘bitcoin-plated’) path from Silicon Valley straight into the regulatory realm of the federal government.

So why are crypto enthusiasts all over the Twittersphere on the brink of organizing a parade? Well, let’s take a closer look at you, Mr. Sacks. A quick glance at your resume – you have your pioneering work with PayPal, Yammer, a stint as COO of Zenefits, and of course, let’s not forget Craft Ventures. Quite an illustrious lineage, wouldn’t you agree? Having this kind of pedigree in both tech and business certainly sets the stage for sculpting a symbiosis between the ever-infuriating red tape of Washington and the progressive world of cryptocurrencies.

Regulatory issues are no stranger to the world of crypto, having had its fair share of dramatic divorces and court battles. One could argue that the industry is desperately in need of someone to play Switzerland. Cue David Sacks, a hero in his own right, ready to broker peace with blockchain and bureaucracy. Hailed as the “crypto czar”, he now finds himself with the unenviable task of mending relationship between two entities as compatible as chalk and cheese.

In an industry where, for better or worse, government entities are often seen as the supervillains, having one of their own on the inside might be the plot twist no one saw coming. To many, the entry of a tech giant into the game adds credibility and the hope of fostering a constructive relationship, unlike the turbulent template we’re currently operating from.

So, deep breath everyone. Let’s see if Sacks represents the dawn of a new era, or if this crypto-meets-Capitol crossover has the makings of an epic soap opera. Either way, it’s a storyline worth watching.

Read the original article here: https://www.wired.com/story/crypto-industry-hails-david-sacks-czar/