Trump Names New White House Czar for AI and Crypto

Good morning. Trump picks his new AI and Crypto czar. The European Central Bank is expected to cut rates faster. And there’s some waterfront property in New Zealand now available to foreign buyers. Listen to the day’s top stories.

Venture capitalist David Sacks was selected to be the White House’s artificial intelligence and crypto czar. President-elect Donald Trump said Sacks will ensure the legal framework for the token has “clarity” to enable the crypto industry to “thrive.” Bloomberg Economics warned the Federal Reserve’s rate path may pose a risk to the Bitcoin rally. Former US Treasury Secretary Lawrence Summers blasted the idea of a national reserve for the digital token as “crazy.”