- Giancarlo stated he was not all for a crypto position throughout the US Treasury
- Hypothesis is rising about who will change SEC Chairman Gary Gensler after Donald Trump's re-election.
Christopher Giancarlo, former chairman of the CFTC, has denied rumors that he’s being thought-about to exchange Gary Gensler as head of the US Securities and Alternate Fee (SEC).
In an article on X, Giancarlo, often called Crypto Dad, stated:
“I made it clear that I already cleaned up (a) Gary Gensler mess @CFTC and didn't need to must do it once more,” including, “DC rumors that I'm all for some # The Function crypto @USTreasury can be incorrect.
As for the stories I'm operating @SECGovI made it clear that I had already cleaned up Gary Gensler's mess earlier @CFTC and I don't need to do it once more. DC rumors that I'm all for some #crypto position @USTreasury are additionally incorrect.
– Chris Giancarlo (@giancarloMKTS) November 14, 2024
Hypothesis concerning the future head of the SEC comes as Donald Trump vowed to take away Gensler after his re-election to the White Home earlier this month. Different prospects for this position embrace SEC Commissioner Hester Peirce, former SEC Commissioner Paul Atkins, and present SEC Commissioner Mark Uyeda.
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 appearing chairman of the CFTC and in August 2017, he was confirmed as chairman till 2019.
In 2020, he co-founded the Digital Greenback Undertaking, a non-profit discussion board centered on “digital forex improvements” and the advantages of a US central financial institution digital forex (CBDC).
Gensler is a controversial determine within the crypto market. In 2022, he stated in an interview that the company is rising its oversight on crypto. One of many reported circumstances is the continuing authorized battle with Ripple.
Nevertheless, earlier this week, Gensler hinted at a attainable departure from the company throughout a speech on the PLI's 56th Annual Securities Regulation Institute. Throughout that convention, he stated, “It has been an amazing honor to serve with (the SEC workers), doing folks's jobs and making certain that our capital markets stay the most effective on the earth.” »
