Kalshi Contenders Back Brian Brooks as SEC Chairman in Trump 2.0
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Brian Brooks is currently the front runner for Donald Trump's second term as SEC chairman. Brooks leads Kalshi with a 40% chance, ahead of other candidates like Dan Gallagher.
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Traders on Kashi are leaning toward Brian Brooks, the former CEO of Binance US and the former legal chief of Coinbase, as the leading candidate for SEC chairman in Donald Trump's second term.
Brooks currently leads the polls with a 40% chance. Robinhood Chief Legal Officer Dan Gallagher is a close second with a 30% chance.
Brooks, who served as acting director of the Office of the Comptroller of the Currency during Trump's first term, has been considered for “various financial agency roles in addition to the CFTC,” according to a source who spoke to FOX Business reporter Eleanor Terrett. These agencies may be the SEC, OCC, Fed, and others.
🚨NEW: Fox Business has learned that a former acting director of the OCC under Trump @BrianBrooksUS is on the shortlist “for various financial agency jobs in addition to the CFTC,” a source close to the matter said.
Besides the CFTC, some other financial regulatory agencies…
— Eleanor Terrett (@EleanorTerrett) November 18, 2024
“no one [Donald Trump] He will be appointed as SEC chairman and not start from scratch. “During his previous administration, President Trump built the infrastructure for two ATH cycles,” Brooks said in a statement of support from the crypto community.
He also tweeted four ideas on how to regulate crypto after a possible change in SEC chairmanship, but did not directly comment on ongoing speculation.
Gallagher held the early lead, with odds rising to over 70% last week, but Brooks started to gain ground earlier this week.
Like Brooks, Gallagher has reportedly been nominated by Trump's transition team to replace SEC Chairman Gary Gensler. He is also a known pro-crypto figure.
Other candidates are Robert Stebbins, former general counsel of the SEC, and Hester Pierce and Mark Uyeda, current SEC commissioners.
Uyeda was the first front to replace Gensler. Variant's chief legal officer, Jake Chervinsky, however, believes Trump will choose his own nominee rather than one of the current commissioners.
Stebbins' candidacy may not have been universally accepted. Critics, including Ripple CEO Brad Garlinghouse, worry that past regulatory actions, particularly those involving Ethereum, could continue a “regulation by enforcement” approach that many in the crypto industry find problematic.
In a group with strong candidates for SEC chairman, it is unconscionable for someone directly involved in Bill Hinman's unethical (and possibly illegal) actions to try to pick winners and losers in crypto.
Choosing Stebbins is like going back to the beginning of the rule in…
— Brad Garlinghouse (@bgarlinghouse) November 19, 2024
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