Caroline Pham, the acting chair of the Commodity Futures Trading Commission (CFTC), has made notable changes to the agency’s leadership shortly after her appointment by President Trump. On January 22, Pham announced new interim officials, including leaders for market oversight and enforcement divisions, and appointed Harry Jung as acting chief of staff to oversee the CFTC’s initiatives related to crypto and decentralized finance (DeFi). Jung, previously Pham’s policy adviser, brings a legal and financial background to his role amid rising discussions around regulatory oversight of the crypto sector. Pham also reshuffled several key positions, with Meaghan Tente becoming acting general counsel, Taylor Foy moving to the Office of Public Affairs, and Tom Smith leading the market participants division. This leadership shift comes on the heels of the CFTC announcing a record $17.1 billion in relief for fiscal year 2024, mostly driven by crypto enforcement actions. Pham recognized the contributions of former chairman Rostin Behnam, who had been vocal about the need for regulatory clarity in the crypto space.

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