US President Donald Trump’s crypto-friendly picks, Mike Selig and Travis Hill, will lead two key financial regulators after receiving Senate confirmation yesterday.
The Senate approved Selig and Hill as part of a broader package of nominees on a 53-43 vote, clearing the way for Selig to take over as chairman of the Commodity Futures Trading Commission (CFTC) and for Hill to lead the Federal Deposit Insurance Corporation (FDIC).
Selig takes over from acting CFTC chair Caroline Pham
Once sworn in, Selig will take over for the CFTC’s current acting chair, Caroline Pham, who has played a key role in shaping U.S. crypto policy this year. and will join crypto payments company MoonPay once Selig is sworn in.
Selig has worked on digital asset policy at the U.S. Securities and Exchange Commission (SEC).
I look forward to a successful confirmation of Mike Selig as the @CFTC’s next chairman and a smooth transition once he is sworn in. The future looks bright. Onwards and upwards 🚀
— Caroline D. Pham (@CarolineDPham) December 17, 2025
Selig will become the CFTC’s sole commissioner after the agency’s five-member committee is reduced to just one, removing friction for him to guide the regulator’s policy decisions while increasing potential uncertainty about due process.
Hill is no longer acting chairman at the FDIC
Hill, meanwhile, will take the helm of the FDIC after serving as acting chairman. It regulates stablecoin issuers and plays a key role in determining how crypto companies gain access to the US banking system, making Hill’s confirmation closely watched by the industry.
He has emphasized that there is “no ban” on banks serving crypto companies, as long as safety and soundness risks are properly managed and aOn December 2, at a hearing in the House Financial Services Committee, lawmakers were told that the agency has “undone the policies of recent years.”
That refers to Joe Biden’s administration’s anti-crypto policies, which many in the digital asset industry say made it difficult for crypto companies to operate. A major theme during the Biden administration has been the “debanking” of crypto companies, often referred to as Operation Chokepoint 2.0.
“Banks are expected to manage safety and soundness risk, but otherwise there is no prohibition on serving these sectors,” Hill said at the hearing. He has also played a leading role in addressing debanking complaints.
Trump says Chris Waller is ‘great’ and will announce Fed chairman pick within weeks
Selig and Hill’s Senate confirmations come after Trump installed new leaders at the Securities and Exchange Commission (SEC), Office of the Monetary Affairs and the U.S. Treasury Department.
He also wants to replace Jerome Powell at the Federal Reserve with a leader more in tune with his desire for lower interest rates. Trump interviewed Christopher Waller on Wednesday and said, “I think he’s great. I mean, he’s a guy who’s been around for a long time.”
Contract asking who Trump will choose as next Fed chairman (Source: Polymarkt)
Waller currently has the third-highest odds on decentralized prediction markets platform Polymarket, with traders seeing a 14% chance of him being picked. White House crypto-friendly economic adviser Kevin Hassett leads with 53% odds, while former Fed Governor Kevin Warsh comes in second with 26% odds.
Trump said the list of possible candidates has been narrowed down to three or four people, adding that “any of them would be a good choice.”
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