‘Crypto Dad’ Christopher Giancarlo Refutes SEC Job Rumors
Former CFTC Boss Says He’s Not Seeking to Replace SEC Chair
Popularly known as ‘Crypto Dad,’ Christopher Giancarlo has denied rumors that President-elect Donald Trump is considering him to replace Gary Gensler as the US Securities and Exchange Commission chair (SEC).
The former head of the US Commodity Futures Trading Commission (CFTC) told his X followers Thursday evening that he had already cleaned ‘Gensler’s mess’ and doesn’t want to do it again. Furthermore, he denied speculations that he would take a crypto role once Trump assumed office.
Rumors regarding Crypto Dad’s potential return to the SEC come as speculations over leadership change at the agency following Trump’s victory continue to grow. Earlier this year, the President-elect promised the crypto community during the Bitcoin conference that he would fire Gensler if he got reelected.
SEC Blamed for Slowing Down Blockchain Innovations
In the past few years, Gensler has targeted several crypto companies for allegedly offering unregistering securities. However, many have accused the SEC chair of employing a ‘regulation by enforcement’ approach without providing clear guidance. This, according to crypto players, has blocked blockchain innovations in the United States.
Yesterday, Gensler hinted at his potential departure while delivering a speech at the Annual Institute on Securities Regulation. In his final remarks, he said it was a great honor to have served the American people and thanked his colleagues for ensuring the US capital markets remained safe.
Gensler’s speech was shared on the SEC’s official website a few hours after 18 states filed a suit accusing the authority of wrongfully targeting crypto firms.
Giancarlo’s Involvement in the Crypto Space
Meanwhile, many crypto players believe Giancarlo is the right candidate to replace Gensler, considering he advocated for crypto innovation during his tenure at CFTC. Moreover, after leaving his role, he launched the Digital Dollar Project in early 2020 to champion digital monetary innovations. Crypto Dad insists that stablecoins and other cryptocurrencies are the future.
It is worth mentioning that Giancarlo isn’t the only name linked to the SEC’s top job. Pro-crypto individuals, including SEC Commissioners Mark Uyeda and Hester Peirce, are rumored to be eyeing the agency’s chair seat. Also, some crypto experts say Trump might consider Binance.US ex-CEO Brian Brooks as Gensler’s replacement.
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