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According to an anonymous Trump administration official cited by Bloomberg, President Trump is set to nominate Michael Selig as chair of the Commodity Futures Trading Commission (CFTC). Selig is the current Chief Counsel for the SEC’s Crypto Task Force.
What's the Scoop?
- Crypto Connection: Prior to his SEC stint, Selig specialized in digital asset law at Willkie Farr & Gallagher LLP. During his time in private practice, Selig was a frequent CoinDesk contributor and made multiple appearances on Bankless to discuss the intersection between crypto and securities law.
- Industry Endorsements: Crypto has rallied behind Selig’s nomination. “Mike is one of the best practitioners on how complex products and tech interact with legacy finance systems," posted Multicoin general counsel Greg Xethalis. Variant Fund chief legal officer Jake Chervinsky echoed the sentiment, calling Selig “the real deal: a brilliant lawyer and proven leader perfect for this role.”
- Nomination Turbulence: The appointment follows a turbulent nomination process. Last month, Trump withdrew his nomination for a16z policy chief Brian Quintenz after reported objections from Gemini's Cameron and Tyler Winklevoss, twin billionaire donors to Trump’s campaign.
President Trump has picked Michael Selig to chair the Commodity Futures Trading Commission, according to an administration official https://t.co/Yg9JrSY8FR
— Bloomberg (@business) October 24, 2025
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