Donald Trump is reportedly considering choosing Chris Giancarlo, former chairman of the Commodity Futures Trading Commission (CFTC), for the role of the first Cryptocurrency manager in the White House.
A prominent advocate for digital assets, Giancarlo has been a key member of Trump’s transition team since his victory on November 5.
Trump Targets Chris Giancarlo for White House Crypto Council
During the election campaign, President-elect Donald Trump promised to establish a regulatory board for Cryptocurrencies and fire SEC Chairman Gary Gensler. These promises to support Cryptocurrencies have triggered the ongoing bull cycle.
However, Trump’s pro-Cryptocurrency moves began to materialize even before he took office at the end of January 2025. This morning, Gensler announced his resignation after a four-year term as president SEC.
Now, Trump is considering his first Crypto consulting role at the White House, and Giancarlo is likely the frontrunner, according to FOX Business.
“Regarding the idea of having a ‘Crypto-Czar’ in the White House, I feel this position should be filled by someone who is neutral, works with all protocols, and has a deep understanding of why crypto especially as well as what the US government under Biden did wrong,” Cardano founder Charles Hoskinson said. write on X (formerly Twitter).
Rumors of his candidacy have triggered a flurry of support online, with his fans eager to see Giancarlo return to power. The financier has long been a staunch supporter of Cryptocurrencies, earning the nickname ‘Crypto Godfather’ in his book ‘The Fight for the Future of Money’.
During his tenure at CFTC from 2017 to 2019, Giancarlo was a strong voice for Cryptocurrency. At a 2018 Senate hearing, he pushed for the establishment of a CFTC framework to support blockchain and virtual asset development. After leaving his position, he founded it Digital USD Project.
In his role, Giancarlo helped establish the criteria to designate Bitcoin and Ethereum as commodities and not securities. He is also a steadfast defender of XRP. During Ripple’s bitter legal battle with the SEC, he argued strongly for the company’s interests in the public sphere.
“Wall Street meets the crypto wilderness: Giancarlo could be the regulatory hero we never knew we needed to clear the blockchain jungle of wild speculation,” one user more.
However, Trump is said to have consulted many prominent figures in the industry to find the best person for the job. Other rumored candidates include David Bailey, CEO of BTC Inc., and Brian Morgenstern, director of public policy at Riot Platforms. Both men helped raise significant amounts of money for Trump’s campaign.