Acting CFTC Chair to Join MoonPay after Leaving Agency
Caroline Pham, acting chair of the US Commodity Futures Trading Commission (CFTC) and the sole Republican commissioner, will leave her position to become chief legal and administrative officer at MoonPay once her successor is confirmed by the Senate. Her departure follows a series of leadership changes at the CFTC and comes amid debate over the crypto industry's hiring of former regulators. President Trump’s initial nominee to replace Pham was withdrawn after industry pushback, with Michael Selig later selected as the next chair. Pham’s tenure as acting chair was marked by alignment with White House policies, particularly regarding cryptocurrency, and saw the launch of initiatives such as the Crypto CEO Forum and CEO Innovation Council. During her time, the CFTC took 18 actions but no enforcement cases. This move echoes a broader trend, with commissioners like Summer Mersinger recently leaving for roles in crypto organizations. Senator Elizabeth Warren and others have raised concerns about public officials preparing for future industry jobs while still in office, after reports noted over 200 former officials joining crypto companies in various capacities.
