Acting CFTC Chair Caroline Pham to Join MoonPay After Leaving
Caroline Pham, the acting chair of the U.S. Commodity Futures Trading Commission (CFTC), will exit the regulator to join MoonPay after the U.S. Senate confirms her successor. Pham previously indicated she would depart once a replacement was approved.
MoonPay said in an X post on Wednesday that Pham will become its chief legal and administrative officer. Pham assumed the acting chair role in January during a presidential transition and has served for months as the CFTC’s sole Republican commissioner following term expirations and resignations among other leaders.
In May, Pham said she intended to leave the CFTC after the Senate confirmed Brian Quintenz, U.S. President Donald Trump’s initial nominee to replace her as chair. Following objections from Gemini co-founders Cameron and Tyler Winklevoss, the White House withdrew Quintenz’s nomination and later named Securities and Exchange Commission official Michael Selig as the president’s choice for CFTC chair.
The move would follow other senior regulatory-to-crypto transitions. Summer Mersinger, another CFTC commissioner, left the agency in May to become CEO of the Blockchain Association, a cryptocurrency industry advocacy group.
During her tenure as acting chair, Pham aligned her agenda with White House directives, including policies affecting digital assets. In September, she reported that the CFTC had taken only 18 actions under her leadership and brought no enforcement cases. Pham also launched the Crypto CEO Forum and the CEO Innovation Council, which included executives from cryptocurrency firms.
US senator criticizes crypto industry’s ‘revolving door’ hiring
Before Mersinger joined the Blockchain Association and MoonPay announced Pham’s post-departure role, Senator Elizabeth Warren of Massachusetts said some government officials might be setting the stage to “audition” for lobbying or regulatory posts at crypto companies and organizations.
Warren co-signed a 2022 letter with other lawmakers expressing similar concerns about public officials’ priorities while in office. The letter referenced reports that “over 200 government officials,” including members of Congress and White House staff, had taken positions as advisers, board members, investors, lobbyists, legal counsel, and executives at cryptocurrency firms.
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