• Giancarlo stated he’s not within the function of cryptocurrencies within the US Treasury
• President Donald Trump's re-election has fueled hypothesis about who will change SEC Chairman Gary Gensler.

Former CFTC Chairman Christopher Giancarlo has denied rumors that he’s being thought of to exchange Gary Gensler as Chairman of the Securities and Alternate Fee (SEC).

Giancarlo, referred to as Crypto Dad, stated in a put up on X:

“I’ve already cleaned up the mess that Gary Gensler beforehand made at @CFTC and have made it clear that I don't wish to do it once more,” he added, including, “DC Rumors of curiosity within the function of cryptocurrencies @USTreasury are additionally false.

As for studies that I'm within the combine. @SECGovrevealed that they’d already cleaned up Gary Gensler's mess earlier @CFTC And I don't wish to do the identical factor once more. I'm interested by some DC rumors. #cipher function @USTreasury can be incorrect.

— Chris Giancarlo (@giancarloMKTS) November 14, 2024

Hypothesis in regards to the future SEC chief arose after President Donald Trump vowed earlier this month to fireplace Gensler after re-election to the White Home. Different candidates for the function embody SEC Commissioner Hester Peirce, former SEC Commissioner Paul Atkins, and present SEC Commissioner Mark Ueda.

Mr. Giancarlo served on the Commodity Futures Buying and selling Fee (CFTC) from 2014 to 2019. He was appointed appearing chair of the CFTC in January 2017 and confirmed in August 2017 to function chair till 2019.

In 2020, he co-founded the Digital Greenback Challenge, a nonprofit discussion board centered on “digital cash innovation” and the advantages of the U.S. Central Financial institution Digital Foreign money (CBDC).

Gensler is a controversial determine within the cryptocurrency market. Again in 2022, he stated in an interview that authorities businesses have been growing their oversight of cryptocurrencies. The main focus of consideration on this case is the continued authorized battle with Ripple.

Nonetheless, Gensler hinted at the potential of resigning from the company earlier this week in a speech at PLI's 56th Securities Regulation Institute. “It has been an honor to work with[SEC staff]to perform the folks's job and make sure that our nation's capital markets stay among the many finest on the earth,” he stated.