Former CFTC Chair Chris Giancarlo is Trump’s top pick for Crypto Czar
The post Former CFTC Chair Chris Giancarlo is Trump’s top pick for Crypto Czar appeared on BitcoinEthereumNews.com.
Chris Giancarlo, famously known as “Crypto Dad,” is Trump’s leading choice for the newly proposed White House Crypto Czar role. The position, still unofficial, would oversee the sprawling $3 trillion market under a Trump administration eager to rewrite the rules of crypto engagement. Sources close to the Trump transition team reportedly revealed that Giancarlo’s policy expertise and industry connections put him miles ahead of any other contenders. At 65, Giancarlo brings heavyweight credentials. He chaired the Commodity Futures Trading Commission (CFTC) during Trump’s first term, earning a reputation as a crypto advocate. Since then, he’s stayed entrenched in the blockchain and crypto sectors. While some speculated he might return to the CFTC or even head the SEC, Giancarlo ruled out those roles, making way for his consideration as the country’s first-ever crypto czar. Trump’s post-election crypto focus Trump has made his disdain for SEC Chairman Gary Gensler known, vowing to fire him on Day 1. During his campaign, Trump leveraged the crypto industry’s frustrations with the Biden administration’s aggressive enforcement tactics to secure financial backing. His pitch? A more hands-off approach to regulation that would let innovation thrive. One of Trump’s boldest ideas is the creation of a presidential crypto advisory council. This group would guide policy decisions and legislation, and insiders suggest the crypto czar would likely be its operational leader. Giancarlo has reportedly already discussed these ideas with key industry players, including Coinbase’s Brian Armstrong and Ripple’s Brad Garlinghouse. While details are still under wraps, sources say Trump has warmed up to the idea of centralizing crypto strategy. Giancarlo’s crypto legacy runs deep. He is a board member of Paxos, a leading stablecoin company. He also co-founded the Digital Dollar Project, a nonprofit advocating for a U.S. central bank digital currency (CBDC). Trump and many in the crypto…
Filed under: News - @ November 21, 2024 8:25 pm