If he seemed favorite for the post of next president of the Securities and Exchange Commission (SEC), Dan Gallagher, Robinhood's legal director, made it known that he refused this responsibility. What do we know?
Robinhood legal chief will not take over as SEC chair
While Donald Trump must now choose who will be the next chairman of the Securities and Exchange Commission (SEC)a name widely involved in the cryptocurrency ecosystem seemed to be the favorite until now: Dan Gallagher, the legal manager of Robinhood.
However, the person concerned created a twist on Friday by making a statement that could not have been clearer to CNBC:
I made it clear to those involved that I did not wish to be considered for this position.
💡 What are the origins of the SEC's actions against cryptocurrencies?
Note that the lawyer knew the internal workings of the agency well, having been one of its commissioners between 2011 and 2015. We will not know if it is precisely this point which tipped the scales for him, but the person concerned believes that he will have more impact by remaining within Robinhood :
I can have a bigger impact on the financial markets from Robinhood, in some ways, than if I went back to the SEC… I hope and expect that I can play a major role on all of these issues throughout this administration.
Other names in the running for the position include Paul Atkins and Robert Stebbins earlier this month, both of whom have already played in the SEC during their careers.
👉 Also in the news — Anti-crypto Gary Gensler will step down as SEC chairman on January 20
During Friday's session, Robinhood's HOOD action reacted favorably to this announcement, increasing by 4.45%, bringing the capitalization of the title to $32.4 billion. Although November is not yet over and these figures will have to be confirmed, it is currently the best month in its history, with an increase of almost 55%.
Black Friday: – 75% on Cryptoast Academy, don't miss the bullrun, join our experts
Source: CNBC
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Since 2021, I have devoted my free time to seriously educating myself on cryptocurrencies in order to acquire maximum knowledge and credibility. I often have the opportunity to conduct interviews with influential figures in the blockchain industry. I also conduct in-depth analyzes on Web3 themes to offer exclusive content to Cryptoast readers.
Vincent Maire
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