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Senate Banking Panel Advances FDIC's Travis Hill for Wider Confirmation Vote
Senate Banking Panel Advances FDIC's Travis Hill for Wider Confirmation Vote
The Senate Banking Committee voted along party lines to send FDIC Acting Chair Travis Hill's nomination to the wider Senate for a final vote on taking the permanent job.
By Jesse Hamilton|Edited by Nikhilesh De
Nov 19, 2025, 4:02 p.m.
FDIC Acting Chairman Travis Hill's confirmation process has advanced to its final stage in the Senate.
What to know:
- The Senate Banking Committee voted 13-11 to advance Travis Hill's confirmation as chairman of the Federal Deposit Insurance Corp. to a final vote of the overall Senate.
- If Hill gets that confirmation, President Donald Trump will have another crypto-friendly regulator atop on of the key financial agencies.
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The U.S. Senate Banking Committee advanced Federal Deposit Insurance Corp. Acting Chairman Travil Hill's confirmation process on Wednesday, setting up a final vote in the wider Senate to potentially make Hill the permanent head of the banking agency that has an ongoing role in overseeing the crypto sector.
Senators voted along party lines 13-11 to report Hill's nomination "favorably" to the Senate during an executive session of the committee. If the Senate confirms him, President Donald Trump will see another of his nominees ascend to the helm of a financial agency — a regulator that's had a significant impact on the health of crypto businesses in the U.S.
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The FDIC, one of three main U.S. banking regulators, had a central role in the "debanking" controversy in which the crypto industry blames the regulators for pressuring banks to sever ties with digital assets businesses and their leaders. Hill has personally acknowledged the situation and sought to reverse it in the time he's run the FDIC as its interim chairman.
On Wednesday, Senate Banking Committee Chairman Tim Scott said Hill — a former staff member on that committee — is "more than qualified for this important role." But the panel's ranking Democrat, Senator Elizabeth Warren, criticized Hill for what she described as a failure to provide requested information on the agency's internal efforts to remedy the scandal in workplace conduct and culture that erupted under its previous leadership.
In his first weeks leading the agency, Hill reversed earlier guidance that had made it difficult for bankers to engage in crypto activity. He's maintained a pro-crypto stance in his time there, and he aided Coinbase in its campaign to reveal communications between the FDIC and banks about blocking new digital assets business.
While Trump had made a relatively rapid push to ensure a friendly leader at the Securities and Exchange Commission, Paul Atkins, his nominees for other agencies haven't always been confirmed as quickly. Among banking regulators, the Office of the Comptroller of the Currency did get a new chief in July with the confirmation of Jonathan Gould. But the Commodity Futures Trading Commission ran into a confirmation drama, and the FDIC is approaching the end of the administration's first year without a permanent chairman.
Read More: Trump Makes Travis Hill Pick Official as Choice to Run FDIC
U.S. Federal Deposit Insurance Corp.Donald TrumpU.S. SenateU.S. Senate Banking Committee
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Protocol Research: GoPlus Security
Commissioned byGoPlus
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- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
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Banks' Capital Rules When Holding Crypto Need to Be Reworked, Says Basel Chair: FT
Erik Thedéen said a different approach is needed as the U.S. and U.K. refused to implement the rules already set out.
What to know:
- The rules on banks holding large amounts of capital to cover cryptocurrency losses need a rework, the chair of the Basel Committee on Banking Supervision said.
- The U.S. Federal Reserve's vice-chair of supervision, Michelle Bowman, called the rules "not very realistic," last month and the Bank of England decided not to implement them in their current form.
- “The focus back then was very much on the bitcoins of this world,” said Erik Thedéen. “Now of course everyone is talking about stablecoins."
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