The White House has appointed David Sacks and Vivek Ramaswamy as the new AI and Cryptocurrency Czars, leading to significant market gains in both sectors. Following the November election, the top 50 cryptocurrencies have surged by 45%, adding $1.1 trillion in market value, while AI stocks have increased by $800 billion. Coinbase shares have risen by 92%, and MicroStrategy is nearing a $100 billion valuation.
The administration has indicated a move towards regulatory clarity, with the SEC reportedly instructed to ease enforcement against token issuers and revise the SAB 121 rule. Additionally, executive actions are prioritizing GPU allocations for U.S. data centers and expediting energy permits. David Sacks has addressed media scrutiny, denying any conflicts of interest.
White House Appoints AI and Crypto Czars, Boosting Market Confidence
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