On December 6, U.S. President-elect Donald Trump announced the appointment of David Sacks, co-founder of PayPal, as the “crypto czar” and overseer of artificial intelligence initiatives in the White House. Sacks will be developing legal regulations for the cryptocurrency industry and will also head the Presidential Council on Science and Technology. Born in South Africa, David Sacks received an economics education at Stanford and a law degree from the University of Chicago. He began his career at PayPal, where he served as COO and was a member of the so-called “PayPal Mafia.” Later, he founded companies Yammer and venture firm Craft Ventures.
Sacks actively invests in cryptocurrency. For instance, his Craft Ventures has invested in 12 projects. Let’s explore each of them.
1. dYdX
A decentralized trading platform that offers perpetual contracts, margin trading, spot trading, and more. The investment from Craft Ventures is behind the token’s price increase of 24.53% in a day.
2. Lightning Labs
Software for the Lightning Network that enables fast and scalable transactions in the Bitcoin network. It offers non-custodial financial services based on the Lightning Network.
3. River Financial
Provides financial services focused on bitcoin, including brokerage services and mining management.
4. Kresus
A mobile Web3 super app for managing and storing digital assets.
5. Set Protocol
An asset management platform that allows the creation of structured baskets of tokenized assets. Key products include DeFi Pulse Index ($DPI), ETH 2x Flexible Leverage Index.
6. Fold
Fold Visa debit card and a rewards program for using bitcoins for everyday purchases.
7. Harbor
A digital securities platform for alternative investments and token issuance. Acquired by BitGo on February 18, 2020.
11. Lumina
A cryptocurrency financial platform that offers tools for portfolio management, accounting, and taxation.
12. Rare Bits
A decentralized marketplace for cryptocurrency collections. The project is currently inactive.
Source: RootData
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