Amid the continued race to exchange Gary Gensler because the Chairman of the US Securities and Exchange Commission (SEC), Chris Giancarlo has dispelled rumors that he’s into consideration for the job. Known as “Crypto Dad,” Chris Giancarlo’s identify popped up as one of many high-profile regulators able to changing the US SEC chair.
US SEC Chair and the Chris Giancarlo Clarification
Besides the final change in management that comes with a brand new administration, Donald Trump plans to fireside Gary Gensler proper from his first day in workplace. With Trump’s victory over Kamala Harris, it turns into evident that Gensler is in his final days in workplace.
Commenting on the development and his prospect for the position, Chris Giancarlo mentioned he as soon as cleaned up Gensler’s mess on the Commodity Futures Trading Commission (CFTC) and has no plans to do it once more. It is price noting that earlier than taking over the US SEC Chair place, Gensler served because the CFTC Chairman from May 26, 2009, to January 3, 2014.
Chris Giancarlo took over from him as CFTC Commissioner on June 16, 2014, for a time period expiring on April 13, 2019. He bagged President Donald Trump’s nomination for a full-time position on August 3, 2017. Having served in the identical capability as Gensler, the Crypto Dad mentioned the DC rumors are mistaken.
As for reviews that I’m in combine to run @SECGov, I’ve made clear that I’ve already cleaned up earlier Gary Gensler mess @CFTC and don’t wish to have do it once more. DC rumors that I’m eager about some #crypto position @USTreasury are additionally mistaken.
— Chris Giancarlo (@giancarloMKTS) November 14, 2024
Beyond the US SEC tag, Giancarlo has additionally debunked claims that he’s in line for the US Treasury Secretary position.
Who Will Replace Gary Gensler?
Many named Chris Giancarlo a very good match for the SEC chairman position due to his advocacy work within the trade. As reported earlier by Coingape, even pro-XRP lawyer turned-politician John Deaton as soon as endorsed Giancarlo for the Chairmanship position.
As Chris Giancarlo dispelled the rumors, John Deaton famous that the callout reveals the harm Gensler did to each the SEC and CFTC.
With Crypto Dad ruling himself out, the highest picks now embody present SEC Commissioners Mark Uyeda, Hester Peirce, and Robinhood CLO Dan Gallagher, who’re the leading candidates for the position. While President Trump might select a totally new identify, what the trade locations a premium on is somebody with a pro-crypto mindset.
Godfrey Benjamin
Benjamin Godfrey is a blockchain fanatic and journalists who relish writing about the true life purposes of blockchain expertise and improvements to drive common acceptance and worldwide integration of the rising expertise. His wishes to teach folks about cryptocurrencies evokes his contributions to famend blockchain based mostly media and websites. Benjamin Godfrey is a lover of sports activities and agriculture.
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