Donald Trump is reportedly considering Chris Giancarlo, the former chairman of the Commodity Futures Trading Commission (CFTC), for the White House’s first crypto administration role.
A popular advocate for digital assets, Giancarlo has been a key member of the Trump transition team since his election victory on November 5.
Trump Eyes Chris Giancarlo for White House Crypto Regulatory Council
While campaigning, President-elect Donald Trump vowed to establish a regulatory council for cryptocurrencies and dismiss SEC Chairman Gary Gensler. Due to these pro-crypto promises, his election into office triggered the ongoing bull cycle.
However, Trump’s pro-crypto moves have already started to materialize even before he takes office at the end of January 2025. Earlier today, Gensler announced his resignation, after his four-year tenure as the SEC chair.
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Now, Trump is considering the first-ever crypto advisory role within the White House, and Giancarlo is potentially a frontrunner candidate, according to FOX Business.
“With respect to the idea of a Crypto-Czar at the Whitehouse, I feel the role needs to be filled with someone who is neutral, works with all the protocols, and has a deep understanding of why crypto is special as well as what the US government under Biden has done wrong,” Cardano founder Charles Hoskinson wrote on X (formerly Twitter).
Rumors of candidacy sparked much support online, where his fans were eager to see Giancarlo back in administration. The financier has been a longtime advocate of crypto, embracing the ‘Crypto Dad’ nickname in his book ‘The Fight for the Future of Money.’
During his tenure at CFTC from 2017 to 2019, Giancarlo was an outspoken advocate of cryptocurrency. At a 2018 Senate hearing, he pushed for establishing a CFTC cross-border framework to support blockchain and virtual asset developments. After leaving the role, he founded the Digital Dollar Project.
In his role, Giancarlo helped establish criteria for declaring Bitcoin and Ethereum as commodities rather than securities. He was also a persistent advocate of XRP. Throughout Ripple’s heated legal war with the SEC, he argued strongly for the company’s interests in the public sphere.
“Wall Street meets crypto wilderness: Giancarlo could be the regulatory lumberjack we never knew we needed to clear the blockchain forest of wild speculation,” one user added.
However, Trump has allegedly been consulting multiple rainmakers in the space to poach the best man for the job. Other rumored candidates include David Bailey, CEO of BTC Inc., and Brian Morgenstern, public policy chief at Riot Platforms. Both individuals helped raise significant funds for Trump’s campaign.
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