The incoming U.S. President Trump has been announcing cabinet members, and today he has nominated Howard Lutnick, the CEO of Cantor Fitzgerald who has long supported cryptocurrency, to be Secretary of Commerce. At the same time, it has been reported that Trump is considering appointing cryptocurrency lawyer Teresa Goody Guillén as the SEC Chair. (Background: Trump reportedly held a private meeting with Coinbase CEO to establish a 'Presidential Bitcoin Advisory Council'? Armstrong suggested completely eliminating personal income tax) (Supplementary background: Trump has stated that upon taking office, he will use the military to expel illegal immigrants on a large scale, and a shrinking labor force may cause inflation to reignite?) The incoming U.S. President Trump announced today the nomination of Howard Lutnick, CEO of Cantor Fitzgerald, as Secretary of Commerce. The responsibilities of the Secretary of Commerce include promoting the development of American businesses, managing U.S. tariffs and trade policy. Howard Lutnick is currently the co-chairman of Trump's transition team and was initially considered a leading candidate for Secretary of the Treasury. Cointelegraph reported that Howard Lutnick has long supported cryptocurrency. Since 2021, his Wall Street financial services company Cantor Fitzgerald has managed Tether's U.S. Treasury investment portfolio and has managed its bond investment portfolio since 2023. Tether's market value has now reached $129 billion, but it has faced criticism for its accounting practices and has refused to conduct a financial audit. Howard Lutnick has repeatedly expressed confidence in Tether's financial stability and has called himself a 'loyal fan' of Bitcoin. However, his views are different from others. In January of this year, he stated that a Bitcoin spot ETF is 'a way for Americans to buy Bitcoin,' but Bitcoin 'is not an American thing.' At the Bitcoin conference in July 2024, Howard Lutnick announced that Cantor Fitzgerald would launch Bitcoin financing services, with the initial loan size reaching $2 billion, but no details were disclosed. In September of this year, he criticized U.S. regulatory agencies for not understanding cryptocurrency, emphasizing that Bitcoin is a commodity, not a security. Cryptocurrency Lawyer May Be Appointed SEC Chair According to a report by Coindesk, industry sources indicate that Trump's transition team is considering Teresa Goody Guillén, a partner at BakerHostetler law firm and co-leader of its blockchain team, as one of the candidates for the new SEC Chair. Goody Guillén is an experienced securities lawyer who has previously worked at the SEC and has battled the SEC while representing blockchain companies and traditional businesses. Sources say Trump is looking for a non-bureaucratic leader who supports cryptocurrency to carry out a thorough reform of the SEC and adopt a more lenient regulatory stance. Goody Guillén is currently on a competitive list of candidates to replace current SEC Chair Gary Gensler, who is expected to resign before Trump officially takes office on January 20. Trump had pledged during his campaign to fire him on his first day in office. Other potential SEC Chair candidates include: Willkie Farr & Gallagher LLP partner Robert Stebbins, Paul Hastings partner Brad Bondi, former SEC commissioner Paul Atkins, Robinhood General Counsel Dan Gallagher, and former Acting Comptroller of the Currency Brian Brooks. Insiders in Washington have indicated that unlike Trump's first term, personnel appointments during the second term are expected to be quick and orderly, with the new SEC Chair likely to be confirmed before Thanksgiving. Related Reports Trump to Open Exchange? His media company reportedly acquires the crypto platform Bakkt, with stock prices soaring 162% in one day. If Trump establishes a Bitcoin strategic reserve, it may 'self-destruct' the dollar's hegemony... a gift to China and Russia. Metamask's parent company: SEC cryptocurrency lawsuits during Trump's term are likely to be dismissed or settled. 'Trump nominates Bitcoin enthusiast Howard Lutnick as Secretary of Commerce, will the new SEC Chair be a crypto-friendly lawyer?' This article was first published in BlockTempo (the most influential blockchain news media).

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