Robinhood Legal Chief Dan Gallagher Eyed for SEC Chair if Trump Wins

Former U.S. regulators and securities lawyers have suggested that Dan Gallagher, Robinhood’s chief legal officer, may be a potential candidate for chair of the Securities and Exchange Commission (SEC) if Donald Trump wins the 2024 presidential election.

Gallagher, who served as an SEC commissioner from 2011 to 2015, was the CLO at Robinhood in 2020. A report from Politico on October 7 cited a former SEC official who described him as a “natural choice” for the position.

Dan Gallagher is not the only name mentioned for the role. Other former officials are reportedly being considered, including Chris Giancarlo, former chair of the Commodity Futures Trading Commission (CFTC), and Robert Stebbins, former SEC General Counsel. SEC Commissioner Hester Peirce, known for her pro-crypto stance, was also mentioned as a possible candidate.

Trump’s Statements on SEC Leadership

Trump has been vocal over his dissatisfaction with current SEC Chair Gary Gensler. In July, he said that if elected, he would remove Gensler “on day one” of his presidency. Trump’s comments come as many in the crypto industry have voiced criticism of the SEC’s regulatory approach under Gensler’s leadership.

As of October, polling data shows a tight race between Trump and Vice President Kamala Harris in both national and battleground state polls. The Politico report noted that Trump has made no formal announcements about potential candidates for SEC leadership, but former regulators and industry experts have frequently mentioned Dan Gallagher.

Possible Pro-Crypto Influence

While Trump has yet to finalize his cabinet picks, his campaign has dismissed rumors about other possible appointments. Trump denied considering JPMorgan CEO Jamie Dimon or BlackRock CEO Larry Fink for Treasury Secretary roles. However, he has suggested that Elon Musk could have a role in his administration if reelected.

Vice President Kamala Harris, who is running against Trump, has not indicated whether she would retain Gensler as SEC Chair if she wins the election. In September, Harris said she intended to support the digital asset industry in 2025, leading to speculation about potential changes in SEC leadership. Gensler’s current term is set to expire in June 2026, though Harris could request his resignation before then. Entrepreneur Mark Cuban has also shown interest in leading the SEC under a Harris administration, according to reports from September.

The SEC’s future leadership remains a point of interest as the 2024 election approaches.

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Lawrence does not hold any crypto asset. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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