Watch CNBC's full interview with White House AI & crypto czar David Sacks

Summary

CNBC's Squawk Box interviews White House AI and crypto czar David Sacks and OSTP director Michael Kratsios in Davos. They discuss the stalled crypto market-structure bill and the stablecoin yield dispute, AI chip sales to China, the administration's AI regulatory strategy, the California wealth tax, and the broader U.S. business environment. Sacks argues regulatory clarity will bring banks into crypto and stablecoins, while Kratsios seeks a federal AI framework to avoid state-by-state rules. The tone is supportive of crypto, AI, and the tech industry under the Trump administration.

• Sacks wants a compromise on stablecoin yield to pass market-structure legislation.
• He expects banks to fully enter crypto and converge with digital-asset firms.
• Sacks says China is unlikely to accept U.S. AI chips as it pushes Huawei and chip self-reliance.
• Kratsios outlines an innovation-first AI plan and a light federal framework to preempt state AI rules.
• Sacks criticizes California's proposed wealth tax as an asset seizure driving out wealth.
• Sacks characterizes the U.S. macro and tech backdrop as strong and poised for 2026.
• Greenland acquisition talk is framed as an old U.S. interest with uncertain outcome.