đš Trump Eyeing Robinhood Exec for SEC Chair Role?
As the 2024 U.S. presidential election heats up, Politico reports that former SEC commissioner Dan Gallagher, now Chief Legal Officer at Robinhood, may become a top contender to lead the Securities and Exchange Commission (SEC) if Donald Trump wins. Gallagher, known for his pro-market stance, could be Trump's pick to replace current SEC Chair Gary Gensler, who Trump has vowed to fire "on day one" if elected.
From 2011 to 2015, Gallagher served as an SEC commissioner and later took the reins as Robinhoodâs legal chief in 2020, making him a prime candidate for Trump's team, according to former SEC insiders. His pro-market and deregulatory approach aligns with Trumpâs business-forward agenda.
What About Gensler? Gensler, who has faced backlash for his tough stance on crypto regulation, would likely be replaced if Trump wins. On the other side, Kamala HarrisâTrumpâs potential opponentâhasn't confirmed whether she would keep Gensler if elected. However, she has signaled a pro-crypto shift, promising support for digital assets in 2025.
Other Names in the Mix: Former regulators have also suggested names like Chris Giancarlo, former CFTC chair, and Hester Peirce, a pro-crypto SEC commissioner known for her dissenting views on crypto crackdowns. Both could be part of a Trump-led SEC team that takes a more hands-off approach to the digital asset space.
Pro-Crypto Cabinet? Interestingly, Trump has floated tech giants like Elon Musk as potential cabinet members, hinting at a pro-crypto direction if re-elected. While rumors of JPMorganâs Jamie Dimon or BlackRockâs Larry Fink for Treasury Secretary were shot down by Trump, the inclusion of Musk would signal a potential tech-friendly administration.
Could a Trump administration embrace a more pro-crypto stance? Time will tell.
