Former SEC Commissioner Eyed for Top Job Under Trump

You might be surprised to know who's in the running to replace the current head of the Securities and Exchange Commission (SEC). Dan Gallagher, who works at Robinhood, is said to be a top pick if Donald Trump wins the presidency. Gallagher was once an SEC commissioner himself. Some people close to the situation think he's a good fit. But there's a twist: the SEC is thinking about suing Robinhood over its cryptocurrency business. They're looking into whether the company is breaking any rules. Gallagher thinks the SEC is targeting the wrong people.

He says his company is not doing anything wrong. Even though there's this legal cloud, Gallagher is still the favorite to replace the current SEC chair, Gary Gensler. Other names are also being mentioned, like Chris Giancarlo and Hester Peirce. Both parties seem to agree that Gensler should go. This is interesting because Gensler was appointed by President Biden and has been tough on the crypto industry. It's like a game of musical chairs at the top.

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