Shares of $Rumble (RUM.US)$ are trading higher Friday. Late Thursday, President-elect Donald Trump stated in a post that David Sacks, a member of Rumble's board since June 2023, will assume the role of "White House A.I. & Crypto Czar" in the upcoming administration. Here's what you need to know.
What To Know: According to post on X, formerly known as Twitter, Sacks will guide policies related to artificial intelligence and cryptocurrency, aiming to enhance the United States' global leadership in these areas. Additionally, his role will involve addressing free speech issues online, working against perceived Big Tech bias and creating a clearer legal framework for the cryptocurrency industry. Sacks will also chair the Presidential Council of Advisors for Science and Technology.
David Sacks, apart from his role at Rumble, is a general partner at Craft Ventures, a venture capital fund he co-founded in 2017. His background includes serving as the founding COO of PayPal, founding and leading Yammer and making angel investments in prominent companies such as Facebook, Uber and SpaceX.
The news of Sacks' appointment has likely contributed to the rise in Rumble's stock price, reflecting investor optimism tied to the increased visibility and influence of one of its board members in a high-profile government position.
