David Sacks, a prominent cryptocurrency figure, praises President Trump's decision to overturn a Biden-era executive order on AI, citing the rapid rise of Chinese AI startup DeepSeek. Sacks argues that the Biden order hindered American AI development while China, exemplified by DeepSeek's successful R1 model, continues to advance.
Cryptocurrency czar David Sacks on Monday backed President Donald Trump's reversal of a Biden-era executive order that instituted guardrails on artificial intelligence technology but "hamstrung" American AI companies. Sacks cited DeepSeek, a Chinese AI startup that that develops open-source large language models . The company has been outperforming American AI companies like OpenAI and Meta.
In a post on X, Sacks said DeepSeek R1 proves that the AI race "will be very competitive" and that Trump was "right to rescind the Biden EO." He said the order "hamstrung American AI companies without asking whether China would do the same. I’m confident in the U.S. but we can’t be complacent.
For the last four years, the Biden administration has basically prosecuted and persecuted crypto companies, really driving them offshore," Sacks said on FOX Business' "The Evening Edit" last week. "I've heard so many outrageous stories by founders, by entrepreneurs, the Biden administration would not tell them what the rules of the road were, and they would then get prosecuted. And what the industry wants more than anything else is regulatory clarity.
AI Artificial Intelligence China Deepseek US Innovation
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trump crypto czar David Sacks touts president's executive order, says Biden drove industry offshoreDavid Sacks hails President Donald Trump's executive order on crypto while slamming the Biden administration's 'prosecution and persecution' of the industry.
Read more »
Browns' Myles Garrett makes history with 2 sacks, but another loss leaves him frustratedGarrett recorded two sacks and became the first player with 14 sacks in four straight seasons.
Read more »
Trump Reverses Biden's AI Order, Citing Chinese Startup's SuccessPresident Trump has reversed a Biden-era executive order on artificial intelligence, citing the rapid advancement of a Chinese AI startup, DeepSeek. Trump argues that the Biden order hindered American innovation while China continues to make strides in the field. DeepSeek's recent release of R1, a powerful AI model, has outperformed US counterparts in performance benchmarks, demonstrating the competitive landscape of the AI race.
Read more »
Biden’s Final Crackdown On Chinese Cars Sets Up A Trump EV ShowdownToday on Critical Materials: Biden readies final EV crackdown, Nvidia's China presence is in danger, and Biden rushes through $635 in EV charger grants.
Read more »
Biden and Trump Meet as Biden Exits PresidencyPresident Biden met with President-elect Trump, reflecting on his presidency and decision to not seek re-election.
Read more »
‘Bad Precedent’: Donald Trump Rips Joe Biden for Pardoning Biden Family During His InaugurationSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Read more »