Ex-SEC regulator linked to Ethereum joins Trump-backed crypto initiative
The appointment surprised many experts
Former SEC Corporate Finance Chief William Hinman, known for Ethereum lobbying, joins Trump’s Crypto Advisory Board
William Hinman, the former head of the SEC’s Corporate Finance Division, has joined Trump’s crypto advisory board. Hinman is widely credited with shaping the current regulatory framework governing the U.S. crypto industry. However, he has also faced accusations of illegally lobbying for the Ethereum Enterprise Alliance due to his connections with the law firm Simpson Thacher.
In June 2018, Hinman delivered a speech at the Yahoo Finance All Markets Summit, where he stated that Bitcoin and Ethereum, due to their decentralized nature, are not securities, while neglecting to address other crypto projects. This statement drew criticism, with many blaming him for being a "catalyst of the crypto winter" that forced numerous American crypto innovators to relocate their projects overseas.
A controversial role and reputation
Hinman is also known as a Democratic donor. Journalist Laura Loomer highlighted this on her X profile, calling him a "despicable figure" lured in by Trump’s promises to defend cryptocurrency.
"Former SEC official William Hinman is trying to infiltrate the board of Trump Crypto despite his donations to Biden and Hillary Clinton," Loomer wrote.
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Hinman’s appearance at a recent crypto gala was one of the event’s major surprises. Given his previous alignment with Trump’s political opponents, his presence sparked rumors of a shift in his stance, with his connections to Andreessen Horowitz adding further intrigue.
In the end, just as crypto projects compete for investor influence, crypto regulators also seem to be vying for their place in the spotlight. Hinman’s expertise in crypto regulation could prove valuable to Trump, even if it’s met with skepticism from crypto enthusiasts and purists.
As blockchain leaders compete for dominance, Hinman appears to be doing the same. While his regulatory knowledge is undeniably valuable, questions remain about whether his intentions align with the industry’s best interests or if this is simply a strategic career move.
As we wrote, a recent post by a FOX News journalist on X suggests that two key regulatory agencies in the United States—the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC)—are in discussions about re-establishing their joint oversight committee for cryptocurrency regulations.
