Robinhood Exec is Reportedly Top Pick to Lead SEC under Trump

Robinhood Chief Legal Officer Dan Gallagher is seen as a leading candidate for the role of SEC Chair if Donald Trump is re-elected, Politico reports.

What's the Scoop?

• SEC Investigation: The SEC is investigating Robinhood's crypto operations, looking into whether the platform operates as an unregistered broker-dealer and clearing agency in crypto markets.
• Gallagher’s Position: Gallagher criticized the SEC's approach, arguing that Robinhood's limited crypto offerings put them in a strong compliance position compared to other platforms.

Bankless Take:

Gallagher’s possible ascension to SEC Chair would place him in a unique spot — transitioning from defending Robinhood to leading the agency that has targeted it. While his placement is predicated on many “ifs,” if he is confirmed, this would likely mark a new chapter in the SEC’s handling of crypto regulation, moving toward more transparent, industry-friendly policies that Gallagher has publicly advocated for.