Former Commodity Futures Trading Commission (CFTC) Chairman Chris Giancarlo, affectionately known as “Crypto Dad,” has emerged as a leading candidate for a potential “crypto czar” position within a new Trump administration, FOX Business has learned. This position, currently under consideration by the Trump transition team, aims to promote growth within the burgeoning $3 trillion digital asset market.
Giancarlo, a seasoned lawyer who headed the CFTC during Trump’s first term, has been an active member of the transition team both before and after the recent election. Trump’s platform resonated with voters by promising a more regulatory-friendly environment for cryptocurrencies and blockchain technology.
While Giancarlo has withdrawn his name from consideration for leadership roles at the CFTC and the Securities and Exchange Commission (SEC), sources indicate he is open to the crypto czar position. Following meetings with prominent crypto executives like Coinbase CEO Brian Armstrong and Ripple CEO Brad Garlinghouse, Trump appears receptive to creating this role. Giancarlo’s Washington experience and deep policy understanding make him a strong contender.
During his campaign, Trump actively sought support from the crypto industry, pledging to replace SEC Chair Gary Gensler on his first day in office due to perceived heavy-handed regulations under the Biden administration. Trump also proposed establishing a crypto presidential advisory council to implement crypto-friendly policies and legislation within his first 100 days. The crypto czar could play a significant role within this council.
However, the Trump transition team remains tight-lipped about concrete plans for the crypto czar position or the advisory council. While FOX Business reports Giancarlo as a top contender for the council’s leadership, other candidates may emerge as plans solidify. The transition team offered no immediate comment on the matter. Giancarlo, while confirming his interest in the role, declined further comment.
Sources suggest the concept of a crypto czar arose during a meeting between Trump and Coinbase CEO Armstrong. The idea has gained traction on social media platforms like X, with industry figures like Cardano founder Charles Hoskinson and former Messari CEO Ryan Selkis offering their perspectives.
Giancarlo’s history with the crypto industry dates back to his 2017 appointment as CFTC chairman, where he oversaw the regulation of Bitcoin futures. Currently senior counsel at Willkie Farr & Gallagher, he also serves on advisory boards for the Chamber of Digital Commerce and stablecoin company Paxos. His advocacy for blockchain technology and digital assets earned him the moniker “Crypto Dad,” the title of his published autobiography. He also founded and directs the Digital Dollar Project, a non-profit exploring the digital future of the US dollar.
The term “czar” typically refers to government officials with authority to advance specific policies. They can be external advisors or hold internal government positions, similar to Vice President Harris’s role as border czar.
