Who will Trump pick as CFTC chair? Here are the six frontrunners

President-elect Donald Trump has different accidental to delight his crypto supporters by choosing an industry-friendly seat of a large regulator.

He picked crypto-friendly lawyer Paul Atkins to pb the Securities and Exchange Commission.

Now, the absorption turns to the Commodity Futures Trading Commission.

The existent CFTC Chair Rostin Behnam volition step down connected January 20 ― the time Trump takes bureau for a 2nd term.

Behnam wasn’t arsenic vilified by US crypto bigwigs arsenic was his SEC counterpart Gary Gensler.

Still, nether his stewardship, the CFTC sued galore crypto companies including Binance and Sam Bankman-Fried’s now-defunct crypto speech FTX. The Binance suit resulted successful a $4.3 cardinal settlement.

Trump’s modulation squad is considering six candidates for the role, according to a report by Fox Business.

Those nether information see a erstwhile CFTC commissioner, a serving commissioner, and 3 different lawyers.

Brian Quintenz

Quintenz heads crypto argumentation astatine Silicon Valley task superior elephantine Andreessen Horowitz. Before a16z, Quintenz served arsenic 1 of the Republican CFTC commissioners from 2017 to 2021.

Quintenz is considered a apical contender for the occupation and is seen arsenic idiosyncratic who tin equilibrium innovation and oversight fixed his acquisition connected some sides of the regulatory divide.

Caroline Pham

Pham is the different campaigner with CFTC experience. She has been serving arsenic a CFTC Commissioner since April 2022 and is simply a frontrunner to caput the bureau connected an interim basis.

Pham has antecedently criticised the lack of wide jurisdictional boundaries betwixt the CFTC and SEC successful crypto regulatory matters.

Marco Santori

Kraken’s main ineligible serviceman Marco Santori is besides different campaigner up for consideration. Kraken is among the galore US crypto companies that faced enforcement enactment from the CFTC.

Santori has antecedently testified earlier the US Congress successful 2023 wherever helium pushed for effectual crypto regulations.

Neal Kumar

The Trump modulation squad is besides considering Neal Kumar and Josh Sterling, according to Reuters.

Kumar is simply a spouse astatine instrumentality steadfast Willkie Farr and Gallagher. He specialises successful commodities and derivatives instrumentality and has been captious of President Joe Biden’s administration’s attack to crypto regulations.

Josh Sterling

Sterling is different CFTC alum. He is presently a spouse astatine Milbank instrumentality steadfast wherever helium focuses connected derivatives litigation and arbitration.

Osato Avan-Nomayo is our Nigeria-based DeFi correspondent. He covers DeFi and tech. Got a tip? delight interaction him at [email protected].