Several former U.S. regulators and securities lawyers have hinted that Robinhood's Chief Legal Officer, Dan Gallagher, might be Trump's pick to chair the Securities and Exchange Commission (SEC). Gallagher, who served as an SEC commissioner from 2011 to 2015, is seen by some as a "natural choice." He joined Robinhood in 2020, a move that ties him to the booming retail investment world.

If Trump wins the upcoming election, he has promised to fire the current SEC Chair, Gary Gensler, “on day one.” With polls showing Trump and Vice President Kamala Harris neck-and-neck, the race is heating up, and so are discussions about potential leadership changes at the SEC.

Other names in the mix include Chris Giancarlo, former chair of the Commodity Futures Trading Commission, and Hester Peirce, an SEC commissioner with a reputation for supporting the crypto industry.

Interestingly, Trump has denied rumors that he would appoint major Wall Street figures like JPMorgan CEO Jamie Dimon. However, he’s open to bold names, even suggesting that Elon Musk could play a role in his administration.

On the other side, it's unclear if Harris would retain Gensler as SEC chair should she win. In a recent campaign statement, Harris expressed support for the digital asset industry, a notable shift for the Democratic candidate. Meanwhile, billionaire Mark Cuban has also thrown his hat in the ring, signaling his interest in leading the SEC if Harris wins.

With cryptocurrency regulation under scrutiny, this potential leadership shift could significantly impact the future of digital assets in the U.S.