Trump’s Crypto Pick: A Joke Or Genius? 🧐

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Well, isn’t this…interesting. President Trump, in a move that has raised a few eyebrows (and perhaps a few celebratory glasses of something stronger than chamomile tea), has nominated one Mike Selig to lead the CFTC. The financial sector seems… pleased. The crypto community, particularly those devoted to Ripple and, you guessed it, XRP, are practically doing cartwheels. Honestly, one might think the fate of the world hinged on this particular appointment. 🙄

Selig, a lawyer-aren’t they all? -and former CFTC bureaucrat, apparently spends his time pondering the intricacies of digital assets. He took to that newfangled “X” platform to announce he was “honored”. Honored! As if it’s a great privilege to wade into this particular swamp. He promised competition, innovation, and a “Great Golden Age” for American finance. One shudders to think what the bronze age might look like, then.

David Sacks, whose opinion, as always, is paramount, has declared Selig “an excellent choice.” He babbles on about Selig’s balanced understanding of both the old and the new financial worlds. Something about modernizing regulations to ensure America doesn’t fall behind. It’s all very… earnest.

Previously, Selig toiled away as Chief Counsel of the SEC’s Crypto Task Force – a bit like the fox guarding the henhouse, wouldn’t you say? – and served under the blessedly forward-thinking Chris Giancarlo. One of the few regulators who seemed to grasp that blockchain technology wasn’t just a fad for teenagers.

A Familiar Name to Those Very Passionate People

Naturally, XRP supporters-a rather zealous bunch, if you ask me-have been quick to point out that Selig has, shall we say, noticed the SEC vs. Ripple debacle. He’s one of the few who bothered to actually look into it. Imagine that!

Back in July 2023, after that Judge Torres made her ruling, Selig scribbled something about it being a “massive win” for Ripple. A “massive win,” he called it? Dramatic, perhaps. He elaborated that the ruling cleverly distinguished between an investment contract and the asset itself. Apparently, a crypto asset isn’t automatically a security just because someone tries to sell it as one. Who knew? 🤷‍♀️

President Trump’s Pick of Mike Selig: A Win for Crypto Innovation, Insight, Ready Regulation

Mike Selig also followed the SEC vs Ripple Case. He is very familiar with Ripple and XRP.

– 𝗕𝗮𝗻𝗸XRP (@BankXRP) October 25, 2025

He then explained, with a perfectly straight face, that XRP is just “computer code.” And that, like gold or whiskey (a rather delightful comparison, I must admit), it is simply a “fungible commodity.” Such profound insights! Truly, we are living in a revolutionary age.

This view, needless to say, perfectly aligns with the opinions of the XRP community, who view it as a triumph for… well, for themselves, naturally. A step towards classification that’s both clear and, more importantly, favorable. One can only hope this all ends well and doesn’t devolve into further bureaucratic chaos. But one doesn’t hold their breath.

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2025-10-26 07:40