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You are here: Home / Bitcoin Industry News / Trump Makes Travis Hill Pick Official as Choice to Run FDIC

October 1, 2025

Trump Makes Travis Hill Pick Official as Choice to Run FDIC

The acting chairman of the Federal Deposit Insurance Bureau, Travis Hill, has been nominated by President Donald Trump to take over the role more permanently, which would elevate an official who has leaned hard against the trend of debanking that plagued crypto insiders and their businesses.

Hill, a former staffer at the Senate Banking Committee, has sought to rethink the banking regulator’s previous resistance to crypto banking and has opposed any past FDIC connection to debanking customers from industries — such as the digital assets sector — that banks may consider risky.

As with other financial agencies, the administration hasn’t raced to fill board vacancies at the FDIC, leaving Hill alone among the dedicated directors, though the chiefs of the Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau have automatic spots on the five-member board. Hill will need to be confirmed by the Senate before he can take on the chairmanship officially.

The Trump administration has been slow to install some of the key leaders at its financial regulators, including those with the most potential authority over crypto matters, such as the Commodity Futures Trading Commission. But even the agencies under temporary management have been pushing a pro-crypto agenda as Trump continues to hold the industry in favor.

The FDIC was at the center of the industry’s banking crisis, and a Freedom of Information Act campaign conducted by Coinbase revealed a trove of letters from the regulator to banks cautioning them against doing crypto business. After Hill arrived at the agency, he unveiled more of those communications.

In March, Hill’s FDIC reversed an earlier policy that required bankers to get prior government approval before taking on new crypto activities.

Read More: White House Withdraws Pro-Crypto Brian Quintenz’s Name From CFTC Chair Nomination

Author: Jesse Hamilton

Filed Under: Bitcoin Industry News

Expert Witness

Ty Sagalow head shotTy Sagalow's unique background in legal, underwriting, policy drafting and claims – and his designation as a “qualified insurance expert” by the United States District Court for the Southern District of California – offers attorneys an unparalleled resource in D&O, E&O and Cyber insurance coverage disputes. He was also named "Most Helpful Expert" in a recent $8.7M coverage decision.

Mr. Sagalow served as Chief Underwriting Officer and General Counsel for AIG Executive Liability (formerly National Union Fire Insurance Company of Pittsburgh, PA), the world’s largest carrier of Directors and Officers Liability and Professional Liability Insurance. As General Counsel, Mr. Sagalow personally wrote or led teams that wrote all the D&O policies and many of the professional liability policies that AIG produced between 1988 and 2000 – policies which continue to serve as the foundational wording for the D&O and professional liability policies in the market today. As AIG Executive Liability’s Chief Underwriting Officer, Mr. Sagalow was charged with all underwriting interpretations and decisions for AIG D&O/E&O policies. In 2009, Mr. Sagalow headed up the team that rewrote all D&O policies for Zurich North America.

Ty is a cum laude graduate of Georgetown University Law Center and holds a LLM from New York University School of Law.

Bitcoin Insurance

Combining his talents as a network security insurance expert and an insurance product development expert, Ty Sagalow is the leading expert on the unique risk and insurance needs of the bitcoin industry.

With the successful sale of BitSecure(tm), the first bitcoin theft insurance policy in February of 2015, he is the first to create a sustainable, robust insurance policy to cover the theft of bitcoins and other virtual currency backed by an A-Rated, global “top 10” Property and Casualty insurance company.

Company Profile

Innovation Insurance Group is an insurance consulting firm and insurance brokerage founded by 30-year insurance executive, Ty R. Sagalow, former Chief Underwriting Officer, General Counsel and Chief Innovation Officer at AIG, and former Chief Innovation Officer at Zurich, NA and Tower Group. IIG focuses on three core practice groups: product development, expert witness services (primarily in the Management and Professional Liability areas), and bitcoin industry brokerage services.

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