J. Christopher Giancarlo, also known as “Crypto Dad”, has denied reports that he is being considered to replace Gary Gensler as head of the Securities and Exchange Commission (SEC). Giancarlo, who previously served as Chair of the U.S. Commodity Futures Trading Commission (CFTC), clarified on X that he does not want to clean up another Gary Gensler’s mess and is not seeking a role within the U.S.
Treasury Department. Speculation about a shake-up at the SEC and Gensler’s position comes after Donald Trump’s re-election. Giancarlo, a former commissioner at the CFTC, earned the nickname “Crypto Dad” for his advocacy of crypto innovation during his tenure. He went on to co-found the Digital Dollar Project in 2020, promoting discussions on the future of digital monetary innovations.
Giancarlo believes that central bank digital currencies (CBDCs) are not the only path for the future, arguing that “crypto, CBDCs, stablecoins, and more” will be key components. With Trump promising to quash any future CBDC policy and replace the current SEC chair, several potential candidates are being considered, including SEC Commissioners Hester Peirce and Mark Uyeda, former Binance.US CEO Brian Brooks, and others.
Gensler himself hinted at his possible departure during a recent speech at the 56th Annual Institute on Securities Regulation.
