SEC Commissioner Jaime Lizárraga announced his resignation effective January 17, 2025, following the departure of SEC Chairman Gary Gensler, who plans to leave shortly after. Lizárraga cited his wife's serious illness as the main reason for his decision, although his term would have traditionally lasted until 2027. With this resignation, the SEC, which is limited to a maximum of three commissioners from any one political party, will likely have to fill the Democrat vacancy once Donald Trump resumes the presidency. At present, only one Democrat, Caroline Crenshaw, remains on the Commission. Trump will appoint a new chair, and speculation surrounds who that might be, with some hoping for a pro-crypto candidate. Recently, potential candidates for the SEC chair, including Robinhood's Dan Gallagher, have withdrawn their names from consideration, leaving uncertainty about the future leadership of the agency and its regulatory stance on issues like cryptocurrency.

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