‘Crypto Dad’ denies curiosity in turning into the subsequent SEC chair

• Giancarlo stated he’s not concerned about any crypto position within the US Treasury
• Hypothesis has grown over who will exchange SEC Chair Gary Gensler following Donald Trump’s re-election

Christopher Giancarlo, former CFTC chair, has denied rumors that he’s being thought-about to switch Gary Gensler as the pinnacle of the US Securities and Trade Fee (SEC).

In a put up on X, Giancarlo, generally known as Crypto Dad, stated:

“I’ve made clear that I’ve already cleaned up [an] earlier Gary Gensler mess @CFTC and don’t need to have [to] do it once more,” including: “DC rumors that I’m concerned about some #crypto position @USTreasury are additionally improper.”

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 need to have do it once more. DC rumors that I’m concerned about some #crypto position @USTreasury are additionally improper.

— Chris Giancarlo (@giancarloMKTS) November 14, 2024

Hypothesis over the long run head of the SEC comes as Donald Trump promised to take away Gensler following his re-election to the White Home earlier this month. Different prospects for the position embody Hester Peirce, an SEC commissioner, Paul Atkins, a former SEC commissioner, and Mark Uyeda, a present SEC commissioner.

Giancarlo served as a commissioner on the Commodity Futures Buying and selling Fee (CFTC) between 2014 and 2019. In January 2017, he was designated as performing chair of the CFTC and in August 2017 he was confirmed to function the chair till 2019.

In 2020, he co-founded the Digital Greenback Undertaking, a non-profit discussion board centered on “digital cash improvements” and the advantages of a US central financial institution digital foreign money (CBDC).

Gensler has been a controversial determine within the crypto market. Again in 2022, he stated in an interview that the company was growing its oversight on crypto. One of many instances that is famous is its ongoing authorized battle with Ripple.

Nonetheless, earlier this week, Gensler hinted at a doable departure from the company throughout a speech on the PLI’s 56th Annual Institute on Securities Regulation. Throughout it, he stated: “It’s been an excellent honor to serve with [the SEC staff], doing the folks’s work, and guaranteeing that our capital markets stay one of the best on the earth.”