#DavidSacksStepsDownAsCryptoLead

David Sacks has officially concluded his 130-day tenure as Trump's White House crypto and AI czar. The venture capitalist and former PayPal exec burned through the legal cap on days a special government employee can serve and announced the news live on Bloomberg Television on March 26.

He is not disappearing from the picture though. Sacks moves into the co-chair role at the President's Council of Advisors on Science and Technology where he says he can now weigh in on a broader range of technology topics beyond just crypto and AI. The White House has confirmed it does not plan to name a replacement.

During his 130 days Sacks was one of the most consequential tech voices inside the administration. He had direct Oval Office access and is widely credited with engineering the end of the so-called war on crypto that defined the previous administration. He also helped shape the national AI legislative framework that dropped just one week before his departure.

The market reaction has been notably muted so far which likely reflects the fact that Sacks is staying inside the tent at PCAST and no policy reversal is expected. His institutional footprint on both crypto regulation and AI strategy is already baked in.

Worth watching: who fills the informal void at the day-to-day advocacy level inside the White House now that the dedicated czar title is gone.