Pro-XRP attorney John Deaton has raised concerns over the potential appointments of Bob Stebbins and Kevin Warsh in President-elect Donald Trump’s administration. Reports suggest Stebbins, a former SEC General Counsel, is a leading candidate to head the Securities and Exchange Commission. Warsh, a Federal Reserve Governor, has emerged as a frontrunner for Treasury Secretary.
In a statement on X dated November 20, 2024, Deaton expressed disappointment with the prospects of Stebbins and Warsh taking these critical positions. He called the pair a “worse combined pick” for roles that heavily influence financial and regulatory policies.
Also Read: Judge Denies Kraken’s Appeal Request in SEC Lawsuit
Growing Lists of Candidates for SEC and Treasury Secretary
Gary Gensler’s resignation as SEC Chair has intensified speculation about his replacement. Alongside Stebbins, other candidates include Mark Uyeda, Hester Pierce, Brad Bondi, Paul Atkins, and Dan Gallagher. More recently, another factor joined the selection for SEC shareholder – Teresa Goody Guillén, SEC lawyer.
Meanwhile, the Treasury Secretary race has gained attention as Trump prepares to interview Kevin Warsh and Marc Rowan, CEO of Apollo Global Management, for the role. John Paulson, who was a leading candidate until last week, has reportedly exited the race. Howard Lutnick, nominated for the Commerce Department, has also been considered for Treasury Secretary.
Deaton Pushes for Earlier Frontrunners
Trump has not been encouraged to entertain his previous choices for the Treasury Secretary because Deaton said better choices include Scott Bessent, Bill Haggerty, and Howard Lutnick. He noted that initially nominated by Trump, Bessent is still a good candidate for the position. Besides, Deaton recommended Brian Brooks and stated that more careful thinking was needed for such significant appointments.
Conclusion
John Deaton’s criticism highlights growing tension surrounding Trump’s potential SEC Chair and Treasury Secretary nominations. As these decisions are near, the outcomes could significantly affect the regulatory and financial landscapes.
Also Read: SEC Faces Scrutiny as Crypto Industry Braces for Last-Minute Regulations Ahead of Leadership Change
