President-elect Donald Trump is considering several candidates to replace Gary Gensler as the chair of the U.S. Securities and Exchange Commission (SEC). Among the top contenders are Dan Gallagher, the Chief Legal Officer at Robinhood and a former SEC commissioner known for his support of financial innovation and market liberalization, particularly in the cryptocurrency sector. Gallagher's potential appointment is seen as a shift towards a more crypto-friendly regulatory environment, contrasting with Gensler's perceived clampdown on cryptocurrencies. Another contender is Wall Street lawyer Richard Farley, who has longstanding ties to Trump backers, including Howard Lutnick, CEO of Cantor Fitzgerald.