Robinhood's Dan Gallagher Withdraws from SEC Chair Consideration

Dan Gallagher, Robinhood's chief legal officer and former SEC commissioner, has withdrawn from consideration to lead the SEC under the incoming Trump administration. Gallagher, who has significant regulatory experience, expressed his commitment to Robinhood and its retail investors. His withdrawal is significant as the crypto community viewed him as a potential ally for a pro-cryptocurrency agenda. The SEC, under current chair Gary Gensler, has been stringent on crypto regulations, impacting companies like Robinhood and OpenSea. The search for Gensler's successor continues amid high tensions between the SEC and the crypto industry.