Trump is considering Robinhood’s Dan Gallagher as SEC Head Gary Gensler’s replacement: report
The post Trump is considering Robinhood’s Dan Gallagher as SEC Head Gary Gensler’s replacement: report appeared on BitcoinEthereumNews.com.
Sources claim that Trump’s team is considering Robinhood’s chief legal officer Dan Gallagher as SEC Chairman Gary Gensler’s replacement. However, it is possible Gensler might stay on unless he resigns. According to a Reuters report on Nov. 7, multiple sources with insider knowledge say that Trump’s transition team is considering pro-crypto lawyer Dan Gallagher for the position of Securities and Exchange Commission Chairman, replacing Gary Gensler. Gallagher previously served as a Republican SEC commissioner back in 2011 until 2015. He is currently the chief legal and compliance officer retail brokerage Robinhood. He is a popular pick among crypto execs as he has advocated for classifying cryptocurrencies as a separate asset class rather than as securities. During his campaign for president, Donald Trump vowed to fire Gensler on his first day as president. Gensler is known for his antagonistic stance towards the crypto industry, claiming that the sector is rife with speculators. The SEC has also prosecuted several crypto companies and executives, with ongoing lawsuits involving Coinbase, Binance and Ripple to name a few. In response to the rumors regarding the agency’s new head, Trump’s national press secretary Karoline Leavitt told Reuters that Trump will decide who will serve in his new administration soon. “Those decisions will be announced when they are made,” said Leavitt. However before the presidential election, 28 Gary Gensler said that he intends to stay on and continue his work at the SEC until “the ref calls the whistle.” Gensler’s term ends in 2026, after starting in 2021 under the Biden administration. Historically, the previous SEC heads stepped down from their posts once there is a change in the White House administration. Therefore, it is likely that Gensler will resign out of his own volition once the Republican administration takes over the White House. Though, it is…
Filed under: News - @ November 8, 2024 10:25 am