Kraken’s founder Jesse Powell backs Brian Brooks for SEC Chair

Jesse Powell, the laminitis of Kraken exchange, has voiced beardown enactment for Brian Brooks, the erstwhile acting US Comptroller of the Currency, arsenic the adjacent Chair of the Securities and Exchange Commission (SEC).

Powell highlighted Brooks’ wide expertise successful a Nov. 19 post connected X, noting that his knowing extends beyond crypto to the SEC’s regulatory mandate and its defined limits.

Powell besides criticized the SEC’s existent state, suggesting it has deviated importantly from its halfway responsibilities, harming US businesses and fiscal markets successful the process.

Fox Business newsman Eleanor Terrett confirmed that Brooks is being considered for assorted fiscal regulatory roles, including that of the SEC.

Terrett reported that different agencies Brooks is being considered for see the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), the Financial Industry Regulatory Authority (FINRA), the Financial Stability Oversight Council (FSOC), and the Federal Reserve.

Meanwhile, Brooks’ candidacy comes amidst caller speculation astir who volition win Gary Gensler arsenic SEC Chair. Other imaginable candidates see Robinhood’s Chief Legal Officer Dan Gallagher, SEC Commissioner Hester Peirce (often referred to arsenic “Crypto Mom”), Commissioner Mark Uyeda, and erstwhile CFTC Chair Christopher Giancarlo, besides known arsenic “Crypto Dad.”

Prediction markets connected Kalshi presently spot Brooks’ chances of becoming SEC Chair astatine 16%, ranking him down contenders similar Teresa Goody Guillen and Robert Stebbins.

Brooks stance

Commenting connected the evolving situation, Brooks emphasized that immoderate caller SEC Chair nether Donald Trump’s medication would inherit important groundwork.

He pointed to Trump’s archetypal term, during which nationalist banks were authorized to custody integer assets, stablecoin reserves received regulatory clarity, and banks were permitted to enactment arsenic validator nodes connected blockchain networks.

Brooks noted that these measures recognized decentralized systems arsenic morganatic and acceptable the signifier for further progress.

He concluded that the adjacent SEC Chair volition person the accidental to physique connected these foundations to beforehand the crypto manufacture and amended regulatory clarity.

The station Kraken’s laminitis Jesse Powell backs Brian Brooks for SEC Chair appeared archetypal connected CryptoSlate.