Donald Trump Appoints Caroline Pham as Acting CFTC Chair: Bloomberg
Highlights
- Caroline Pham is the next in line to head the US CFTC according to Bloomberg
- Report has it that the agency's 5 commissioners are on board with the appointment
- CFTC to play a major role in the pro-crypto agenda of President Donald Trump
US President Donald Trump has nominated Caroline Pham, a Junior Commissioner at the Commodity Futures Trading Commission (CFTC), to lead the agency. According to a Bloomberg report, Pham will take over as acting Chairman after the five commissioners at the commission voted in her favor.
The US CFTC and Caroline Pham
According to the Bloomberg report, the appointment is not yet public knowledge, citing anonymous sources. Appointing a Chairman to lead the US CFTC is largely an in-house job, with the commissioners tasked with approving the President’s pick.
Caroline Pham advocates for clear regulations for the crypto industry and its players. Her ascension as Chair will help President Donald Trump achieve his pro-crypto mandate in the next four years. The appointment of Pham became necessary after Former Chairman Rostin Behnam stepped down.
Beyond the Bloomberg update, Fox Business Journalist Eleanor Terrett said she has also confirmed the appointment of Caroline Pham. Pham is considered a crypto proponent with a friendly relationship with some of the industry’s ecosystems.
🚨NEW: I’ve confirmed @realDonaldTrump has selected GOP Commissioner Caroline Pham @CFTCpham as Acting @CFTC chair.
— Eleanor Terrett (@EleanorTerrett) January 20, 2025
Following her appointment, an old update from 2022 appeared in which she posted a photo of her meeting with Brad Garlinghouse, Ripple CEO. Based on her antecedents as a commissioner, industry proponents believe she will be a good Chair for crypto.
The Compliementary US SEC Leadership
The appointment of Caroline Pham came late, considering the nomination of Paul Atkins in December 2024. These two nominations are considered the most important in shaping the direction of the crypto ecosystem.
The US CFTC and the SEC have pending cases transferred from Gary Gensler and Rostin Behnam. While Gensler filed a fresh appeal in the Ripple lawsuit last week, Rostin Behnam had a pending subpoena regarding the prediction markets probe.
It remains to be seen how both leaders will navigate old cases while charting a future for the crypto ecosystem.
Industry Expectations for Donald Trump
With President Donald Trump officially sworn into office, many industry leaders are now anticipating a fulfillment of his election promises. While clear regulations remain crucial, the clamor for a strategic Bitcoin reserve is also at the top.
The move for this reserve was initiated following the Bitcoin Bill introduced by Senator Cynthia Lummis. In addition, the President is looking to form a crypto advisory council to drive the strategic Bitcoin reserve plan.
The industry is counting down already to when most of the key issues from the previous administration, including the investigation of Operation Chokepoint 2.0.
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