Dan Gallagher, Robinhood’s Chief Legal Officer and former SEC Commissioner, is reportedly being considered by a potential Trump administration to lead the Securities and Exchange Commission (SEC), according to multiple sources. Former U.S. regulators and securities lawyers believe Gallagher could be a top contender if Donald Trump wins the 2024 presidential election.
An October 7 Politico report highlighted Gallagher as a “natural choice” for the SEC chair position under Trump, with one former SEC official suggesting his candidacy. Gallagher previously served as an SEC Commissioner from 2011 to 2015 and joined Robinhood as CLO in 2020.
Trump has publicly expressed his intent to fire current SEC Chair Gary Gensler “on day one” if victorious in November. Polls show a close race between Trump and U.S. Vice President Kamala Harris, with both candidates performing neck-and-neck in key battleground states.
In addition to Gallagher, former regulators have suggested other potential candidates Trump could consider for the SEC role. These include Chris Giancarlo, former chair of the Commodity Futures Trading Commission, and Robert Stebbins, former SEC General Counsel. Hester Peirce, an SEC Commissioner known for her pro-crypto stance, has also been mentioned as a possibility.
A Pro-Crypto Shift?
The Trump campaign has not officially confirmed cabinet selections for a potential 2025 administration. However, Trump has denied rumors of considering high-profile figures like JPMorgan CEO Jamie Dimon or BlackRock CEO Larry Fink for Treasury Secretary. He has also hinted at the possibility of including Tesla CEO Elon Musk in his cabinet, with Musk publicly showing increasing support for Trump. Musk even joined Trump on stage during an October 5 rally.
This evolving cabinet speculation, coupled with pro-crypto voices like Hester Peirce being floated for key roles, has fueled discussion about a more crypto-friendly regulatory landscape under a future Trump administration.