- Giancarlo said he’s not interested in any crypto role in the US Treasury
- Speculation has grown over who will replace SEC Chair Gary Gensler following Donald Trump’s re-election
Christopher Giancarlo, former CFTC chair, has denied rumors that he’s being considered to replace Gary Gensler as the head of the US Securities and Exchange Commission (SEC).
In a post on X, Giancarlo, known as Crypto Dad, said:
“I’ve made clear that I’ve already cleaned up [an] earlier Gary Gensler mess @CFTC and don’t want to have [to] do it again,” adding: “DC rumors that I’m interested in some #crypto role @USTreasury are also wrong.”
As for reports that I’m in mix to run @SECGov, I’ve made clear that I’ve already cleaned up earlier Gary Gensler mess @CFTC and don’t want to have do it again. DC rumors that I’m interested in some #crypto role @USTreasury are also wrong.
— Chris Giancarlo (@giancarloMKTS) November 14, 2024
Speculation over the future head of the SEC comes as Donald Trump promised to remove Gensler following his re-election to the White House earlier this month. Other possibilities for the role include Hester Peirce, an SEC commissioner, Paul Atkins, a former SEC commissioner, and Mark Uyeda, a current SEC commissioner.
Giancarlo served as a commissioner at the Commodity Futures Trading Commission (CFTC) between 2014 and 2019. In January 2017, he was designated as acting chair of the CFTC and in August 2017 he was confirmed to serve as the chair until 2019.
In 2020, he co-founded the Digital Dollar Project, a non-profit forum focused on “digital money innovations” and the benefits of a US central bank digital currency (CBDC).
Gensler has been a controversial figure in the crypto market. Back in 2022, he said in an interview that the agency was increasing its oversight on crypto. One of the cases this is noted is its ongoing legal battle with Ripple.
However, earlier this week, Gensler hinted at a possible departure from the agency during a speech at the PLI’s 56th Annual Institute on Securities Regulation. During it, he said: “It’s been a great honor to serve with [the SEC staff], doing the people’s work, and ensuring that our capital markets remain the best in the world.”
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