David Sachs, a venture capital investor, announced his departure from his role as "Czar" of cryptocurrencies and artificial intelligence at the White House, following the expiration of his legal term as a private government employee.

Sachs told Bloomberg that he has exhausted the 130-day period allocated for this type of position, and he will join the President’s Council of Advisors on Science and Technology.

He added, "As co-chair of the Advisory Council on Science and Technology, I can provide recommendations not only on AI but also on a broader range of technical issues, and this is how I will continue my engagement in the future."

The Advisory Council on Science and Technology is a federal committee comprising experts from industry and academia, providing evidence-based recommendations to U.S. President Donald Trump on technology, scientific research, and innovation policies.

Sachs has been one of the prominent figures in the White House since Trump’s second term began, gaining direct attention from the President on several issues, especially those related to technology and digital currencies.

Sachs is known as one of the leading entrepreneurs and investors in Silicon Valley, and he is a founding partner of Craft Ventures (since 2017.

In March, a White House memo revealed that Sachs sold cryptocurrency-related investments worth over $200 million.

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