In a swirling vortex of bureaucratic magic – or what passes for it in these parts – Bloomberg’s crystal ball revealed that United States President Donald Trump has plucked Michael Selig to captain the Commodity Futures Trading Commission (CFTC). This happens just as the lawmakers are brewing a storm to shove the agency into the driver’s seat of crypto regulation, assuming the Senate doesn’t toss a wrench in the works with one of their infamous filibuster spells. 🪄✨
From SEC’s Enchantment Brigade to the CFTC Cauldron
On that fateful day of October 24th, President Donald Trump waved his wand and selected Matthew Selig to helm the CFTC, as per a report from that eternally gossiping oracle, Bloomberg. Ah, but is it Matthew or Michael? Who knows in this fog of names, perhaps it’s a clone or a shapeshifting imp. 😏
Behold, Selig presently moonlights as the chief counsel for the Crypto Task Force of the Securities and Exchange Commission (SEC), a role that sounds suspiciously like herding digital cats through a thunderstorm. He’s no stranger to the CFTC either, having dallied there under the reign of former Chairman Chris Giancarlo. And before that, he was a partner in the arcane arts of crypto at the illustrious law firm Willkie Farr & Gallagher, dealing in contracts that could tie a dragon’s tail. 🤣
The timing? Oh, it’s as if the gods of finance are having a laugh. Lawmakers are inching closer to anointing the CFTC as the undisputed overlord of digital assets, with bills in the House and Senate itching to hand it the keys to a whole new kingdom of financial mischief. 🚀
Following the dramatic exit of CFTC Chair Rostin Behnam – right around Trump’s inauguration, talk about perfect timing for a plot twist – Caroline Pham has been awkwardly holding the fort as acting chair. The president once summoned Brian Quintenz from a16z to the throne, but faced the wrath of the Winklevoss twins (yes, those Gemini fiends), who howled about conflicts of interest like offended wolves. Werewolves of Wall Street, anyone? 🌕
Industry Wizards Weigh In on Trump’s CFTC Conjuration
As things stand, Selig’s been shipped off to the Senate for the ritual of hearings and approval, after which he can don the Chairman’s robes fully. Industry experts, those secretive sages, reckon he’s got a decent shot at passing muster. Amanda Tuminelli, the Executive Director of DeFi Education Fund, sang his praises like a bard at a tavern. 🎶
She hailed him as a lawyer of great regard and an expert in these wild tech wilds, one who gets the gears and gadgets and knows when to let innovations romp free. Apparently, the man is all about chasing the ‘right legal answer’ – whatever that means in a world where rules bend like pretzels. 🍿
Even White House AI and Crypto Czar David Sacks chimed in, proclaiming Trump’s choice as spot-on. He seemed mighty impressed with Selig’s brain-busting knowledge and zeal for overhauling regs to keep America from lagging in this digital disco. Oh, the ironies pile up like unpaid bills in a bordello! 🤷♂️
President Trump has made an excellent choice in Mike Selig to lead the @CFTC.
As anyone who knows him will attest, @MikeSeligEsq is deeply knowledgeable about financial markets and passionate about modernizing our regulatory approach in order to maintain America’s…
– David Sacks (@davidsacks47) October 25, 2025
His words spring from witnessing Selig’s role in the President’s crypto crusade. Much like Tuminelli, Sacks noted the nominee’s savvy in market mazes, plus that fiery drive to update the rulebook so the US doesn’t trip over its own shoelaces in the new era. Because nothing says ‘modernization’ like pretending futures trading wasn’t already a gamble. 🎰
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2025-10-25 18:53