Brian Brooks Emerges as Frontrunner for SEC Chair Position in Donald Trump's Second Term
- Barbara StreisandOriginal
- 2024-11-20 07:18:21328browse
Traders on Kashi are leaning toward Brian Brooks, the former CEO of Binance US and ex-legal boss of Coinbase, as the leading candidate for the SEC Chair position
Brian Brooks, the former CEO of Binance US and ex-legal boss of Coinbase, is emerging as the favorite candidate among Kashi traders to become the next SEC Chair if Donald Trump wins a second term.
According to the latest poll, Brooks has a 40% chance of being appointed to the role. Dan Gallagher, the chief legal officer of Robinhood, follows closely behind with a 30% probability.
Brooks, who also served as Acting Director of the Office of the Comptroller of the Currency during Trump’s first term, is being considered for various financial agency roles, a source told FOX Business journalist Eleanor Terrett. These agencies include the SEC, the OCC, the Fed, and others.
“Whoever [Donald Trump] appoints as SEC chair won’t be starting from scratch,” Brooks said in a statement responding to support from the crypto community. “In his last administration President Trump built the infrastructure for two ATH cycles.”
He also tweeted four proposals for how crypto should be regulated after a potential change in the SEC chairmanship, but he did not directly comment on the ongoing speculation.
Gallagher initially held the lead, with odds hitting a high of above 70% last week, but Brooks started gaining ground earlier this week.
Like Brooks, Gallagher was reportedly shortlisted by Trump’s transition team to succeed SEC Chair Gary Gensler. He is also a known pro-crypto figure.
Other candidates are Robert Stebbins, former General Counsel for the SEC, and Hester Pierce and Mark Uyeda, the current SEC commissioners.
Uyeda was the early frontrunner to succeed Gensler. However, Jake Chervinsky, Chief Legal Officer at Variant, believes Trump would choose his own candidate rather than select from the existing commissioners.
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