⚡ Trump Administration Candidates with Crypto-Friendly Views
posted 12 Nov 2024
On November 5, 2024, Donald Trump won the U.S. presidential election. Throughout his campaign, he frequently signaled intentions to make administrative changes, pledging to replace crypto-skeptics with pro-crypto candidates.
This reshuffling is part of Trump’s broader strategy to make the U.S. the “crypto capital of the world.” Additionally, he has pledged to create a national BTC reserve, support Bitcoin mining, and oppose CBDCs.
One of Trump’s most discussed priorities is replacing current SEC Chair Gary Gensler. Just over a week after the election, the crypto community is already abuzz with names of potential candidates.
According to The Washington Post, Daniel Gallagher, a former SEC official and current executive at fintech firm Robinhood (which supports crypto wallets and stock trading), is a strong candidate for SEC Chair.
Two current SEC commissioners, Hester Peirce (known as “Crypto Mom”) and Republican Mark Uyeda, are also reportedly being considered.
Potential candidates for SEC Chair: Hester Peirce (left), Mark Uyeda (right), and Daniel Gallagher (bottom). Source: GN Crypto
Gallagher, a longtime Republican donor, has criticized the SEC for its “scorched earth” policy toward cryptocurrencies. Peirce and Uyeda have also spoken out against the agency’s current approach, especially under President Joe Biden.
Among the three, Peirce is viewed as the top contender. She is expected to serve as acting SEC Chair once Trump assumes office, with the possibility of leading a federal cryptocurrency task force.
There are rumors that this task force could include prominent Trump allies like Elon Musk and Howard Lutnick, who has close ties with stablecoin issuer Tether.
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