Chris Giancarlo, often called "Crypto Dad" for his openness toward the industry, is the frontrunner to hold a position specifically focused on crypto policy in the White House, according to Fox Business.
If Giancarlo secures the position, he would be the first "crypto czar," a political term to describe a high-level official overseeing a specific policy initiative. Bloomberg reported on Wednesday that President-elect Donald Trump's team was considering creating such a position, which would be a first in the White House.
Giancarlo and the Trump transition team did not respond to a request for comment from The Block.
Giancarlo led the U.S. Commodity Futures and Trading Commission from March 2017 to April 2019, where he oversaw the launch of the first bitcoin futures products. He later published a book about bitcoin derivatives, "CryptoDad: The Fight for the Future of Money." The former CFTC chair also co-founded the Digital Dollar Project, a forum for exploring digital innovation, including a U.S. central bank digital currency. In May, he joined Paxos' board of directors.
Bitcoin Magazine CEO David Bailey and Riot Platforms head of public policy Brian Morgenstern have also been considered for the czar position, according to Fox News. Both did not respond to a request for comment.
Following the election, Trump has nominated crypto-friendly executives to top posts, including Cantor Fitzgerald CEO Howard Lutnick to lead the U.S. Department of Commerce and bitcoin-friendly Robert F. Kennedy Jr. to become the U.S. Secretary of Health and Human Services.
Trump has not yet nominated someone for the U.S. Treasury Secretary or to lead the U.S. Securities and Exchange Commission or the Commodity Futures Trading Commission, all of which could have major implications for the crypto industry.
Giancarlo has since indicated he is not interested in the SEC chairmanship.
"As for reports that I’m in mix to run @SECGov, I’ve made clear that I’ve already cleaned up earlier Gary Gensler mess @CFTC and don’t want to have do it again," Giancarlo said in a post on X on Nov. 14.
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