Dan Gallagher, Robinhood's chief legal officer and former SEC commissioner, has withdrawn from consideration to lead the SEC under the incoming Trump administration.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.
Robinhood's Chief Legal Officer, Dan Gallagher, has withdrawn from consideration for the role of SEC Chairman under President-elect Donald Trump, despite being a frontrunner. Gallagher, who served as an SEC commissioner from 2011 to 2015, stated his commitment to Robinhood and its customers, emphasizing his desire to continue democratizing finance in his current role. Other potential candidates for the SEC chair position include Robert Stebbins, Paul Atkins, and Brian Brooks.
Robinhood's Chief Legal Officer Dan Gallagher has declined interest in becoming the next SEC Chairman following Gary Gensler's resignation announcement. Gensler plans to step down on January 20, 2025, as Donald Trump assumes the presidency. Gallagher, a former SEC commissioner, prefers to focus on his role at Robinhood, aiming to democratize finance for retail investors. Meanwhile, the crypto industry anticipates changes in SEC leadership, with Trump previously expressing intentions to replace Gensler.
Dan Gallagher, former SEC commissioner and current Chief Legal Officer at Robinhood, has announced he is not interested in becoming the SEC chair under President-elect Donald Trump. Despite being a leading contender for the position, Gallagher expressed his commitment to Robinhood and its mission to democratize finance. Other potential candidates for the SEC chair include Robert Stebbins, Paul Atkins, and Brian Brooks.
As speculation grows over potential replacements for SEC Chairman Gary Gensler, who may leave his position before his term ends in 2026, Trump's transition team is considering candidates with a focus on cryptocurrency regulation. Dan Gallagher, a former SEC commissioner and current Robinhood executive, and Paul Atkins, a former SEC commissioner and CEO of Patomak Global Partners, are among the names being floated. Both have criticized Gensler's approach to crypto regulation. Mark Uyeda, another SEC commissioner, has also expressed the need for change in the agency's crypto policies.
