President-elect Donald Trump has announced that he has appointed David Sacks, a former chief operating officer of PayPal, as the White House's new AI and Cryptocurrency Czar.

Former United States Treasury Secretary Lawrence Summers has criticized President-elect Donald Trump's proposal to establish a strategic Bitcoin reserve, calling it "crazy" and a way to pander to his cryptocurrency campaign donors.

Nasdaq-listed healthcare technology firm Semler Scientific has announced the purchase of an additional 303 bitcoins for $29.3 million, bringing its total BTC holdings to 1,873 coins.

Top stories in the Crypto Roundup today:

• Trump Taps PayPal Veteran as White House AI and Crypto Czar
• Former Treasury Secretary Dismisses Trump's Idea of a Strategic Bitcoin Reserve as 'Crazy'
• Semler Scientific Invests $29.3 Million to Buy 303 Additional BTC
• Crypto Market Movers — HBAR, CRV, XRP

Trump Taps PayPal Veteran as White House AI and Crypto Czar

President-elect Donald Trump has announced that he has appointed David Sacks, a former chief operating officer of PayPal, as the White House's new AI and Cryptocurrency Czar.

In a post on the social media platform TruthSocial, Trump said that Mr. Sacks would "guide policy for the Administration in Artificial Intelligence and Cryptocurrency, two areas critical to the future of American competitiveness."

Sacks, a limited partner at the venture capital firm MultiCoin Capital, will also focus on safeguarding free speech online, according to Trump’s post, who noted that he will “work on a legal framework so the Crypto industry has the clarity it has been asking for, and can thrive in the U.S.”

The appointment of Sacks, who is part of the so-called "PayPal Mafia" of former employees who have gone on to found or lead major technology companies, comes a day after Trump named former Securities and Exchange Commission commissioner Paul Atkins as his pick to head the securities regulator.

Former Treasury Secretary Dismisses Trump's Idea of a Strategic Bitcoin Reserve as 'Crazy'

Former United States Treasury Secretary Lawrence Summers has criticized President-elect Donald Trump's proposal to establish a strategic Bitcoin reserve, calling it "crazy" and a way to pander to his cryptocurrency campaign donors.

Speaking on Bloomberg TV, Summers said that the idea of “some kind of national Bitcoin reserve is crazy,” adding that while he understands the need for a national reserve and why a “century ago we accumulated gold in Fort Knox,” he questioned why the government would “choose to support, by accumulating a sterile inventory, a bunch of Bitcoin.”

Per his words, there’s “no reason to do that other than to pander to generous special interest campaign contributors.” During his campaign, Trump suggested the creation of a strategic Bitcoin reserve that would be formed with the Bitcoin the government has seized, which currently equals around 198,000 BTC.

Some Republicans aligned with Donald Trump, including Senator Cynthia Lummis, have pushed for a bill that would have the government buy 1 million BTC and hold it for at least 20 years.

Despite the criticism, Summers acknowledged that Trump’s crypto approach is legitimate, saying that he believes “we need to support financial innovation wherever it may go, and there are probably respects in which crypto has been over-regulated by overzealous regulators.”

Semler Scientific Invests $29.3 Million to Buy 303 Additional BTC

Nasdaq-listed healthcare technology firm Semler Scientific has announced the purchase of an additional 303 bitcoins for $29.3 million, bringing its total BTC holdings to 1,873 coins.

The company, which provides equipment and software for the early detection of circulatory system disorders, said the latest Bitcoin acquisitions were made between November 25 and December 4 at an average price of $96,779 per coin, including fees and expenses.

Semler Scientific's total Bitcoin treasury is now valued at approximately $184 million, making it the 14th largest corporate holder of the cryptocurrency.  Eric Semler, the company's chairman, touted the performance of Semler Scientific's Bitcoin investment strategy in a statement, noting the company has achieved a BTC Yield of 78.7%.

Crypto Market Movers — HBAR, CRV, XRP

Several tokens are leading the charge in the last 7-day period. Some of these are well-known cryptocurrencies with more liquid trading pairs, so we’ll be focusing on these over low-cap cryptos that may have higher percentage changes.

Hedera Hashgraph (HBAR) — Hedera Hashgraph is a public, open-source, proof-of-stake network created by a team led by co-founders Dr. Leemon Baird and Mance Harmon. HBAR is the native, energy-efficient cryptocurrency of the network, used to pay application transaction fees and protect the network from attack. The network achieves 10,000 HBAR cryptocurrency transactions per second, with transaction fees of around $0.0001 USD.

Curve DAO Token (CRV) - CRV is the governance token of the Curve Finance protocol, used to incentivize liquidity providers and engage more users in the governance of the protocol. CRV is used for voting, staking, and boosting, allowing users to acquire voting power and earn a boost of up to 2.5x on the liquidity they provide. CRV holders can stake their CRV to receive trading fees from the Curve protocol, and 50% of the trading fees are distributed to veCRV holders.

XRP (XRP) - XRP is a highly efficient cryptocurrency built on the XRP Ledger, a decentralised blockchain designed to facilitate fast, affordable transactions across borders. Its primary use case is in bridging currencies for global payments, with additional applications in decentralised finance, tokenization, and everyday transactions.

State of the Crypto by Top Tier Exchange Volume

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