SAN FRANCISCO >> A cryptocurrency enthusiast as chair of the Securities and Exchange Commission. A presidential committee stacked with industry loyalists. And legislation to let crypto companies operate freely in the United States.

After years in the political wilderness, crypto executives are scrambling to execute a wish list that could transform the industry’s standing in the United States. They are intensively lobbying President-elect Donald Trump and his allies, seeking to shape decisions about key personnel in the new administration and end a regulatory crackdown on crypto companies.

Many top executives are courting Howard Lutnick, a bitcoin enthusiast who heads the financial firm Cantor Fitzgerald and is a co-chair of Trump’s transition team, according to more than a dozen crypto executives, some of whom requested anonymity to discuss sensitive political maneuvering.

Coinbase, the crypto exchange, has been coordinating with Trump’s transition team to arrange a conversation between Lutnick and Brian Armstrong, the company’s CEO. Brad Garlinghouse, the CEO of Ripple, another crypto firm, said he had spoken with people close to Trump about personnel decisions for the new administration. Executives at Circle, a large U.S. crypto firm, have also communicated with the transition team, a person with knowledge said.

The industry’s top priority is reshaping the SEC, which has aggressively pursued crypto firms in court. Among the candidates to run the agency is Dan Gallagher, the chief legal officer for Robinhood, the finance and crypto app, three people with knowledge of the matter said. Another candidate backed by the industry is Chris Giancarlo, a former regulator who has served as an adviser to crypto companies, one of the people said.

After every election, corporate leaders put on a full-court press to influence the transition. But the crypto world has particular reason for optimism. During the campaign, Trump, once an outspoken bitcoin skeptic, said he had been converted into a believer and promised to end the SEC’s legal crackdown. He and his family also started their own crypto business and stand to benefit personally from regulatory changes that industry executives have recommended.

The result is likely to be a drastic shift in U.S. policy toward the crypto industry, which has been tarnished by financial scandals, corporate bankruptcies and white-collar frauds that cost consumers billions of dollars in lost savings. Before the election, a set of super PACs financed by crypto executives spent about $135 million to influence more than 50 congressional races, helping elect dozens of pro-crypto candidates.

On Monday, the price of bitcoin hit a new high of nearly $90,000, as investors expressed confidence that the industry’s political spending would translate to softer regulations.

The spending “sets a terrifying example of influence-peddling,” Lisa Gilbert, a co-president of Public Citizen, said in a statement. “The sheer volume spent, and its effectiveness, teaches other corporate actors exactly the wrong lesson.”

Karoline Leavitt, a spokesperson for the transition, said in a statement that Trump’s personnel decisions for the new administration would be “announced when they are made.” A spokesperson for Coinbase declined to comment on Armstrong’s contact with Lutnick.

During the Biden administration, the crypto industry struggled to establish a foothold in Washington. The 2022 collapse of the FTX crypto exchange spooked some of the industry’s allies in Congress, and the SEC sued large crypto companies like Coinbase, a legal offensive that threatened to push much of the industry offshore.

Now crypto executives are optimistic that the new leaders in Congress and the White House will advance many central aims.

“A lot of folks are trying to put together their wish lists and reach out to the campaign and the transition through different channels,” said Kristin Smith, CEO of the Blockchain Association, a crypto trade group. She said she was scheduled to speak at a crypto conference in Miami this week hosted by Lutnick’s firm and hoped to meet people in his orbit.

Other executives have been angling for introductions to Trump’s allies, calling anyone who might help them secure a spot on a crypto advisory council that the president-elect has promised to establish. Sen. Bill Hagerty, R-Tenn., has emerged as a key figure, helping introduce industry leaders to Trump’s team, two people with knowledge of the matter said.

In public and private, industry leaders have also recommended candidates to replace the SEC’s chair, Gary Gensler, a staunch crypto critic.

On Thursday, Armstrong of Coinbase wrote on the social platform X that Trump should pick SEC Commissioner Hester Peirce to lead the agency. Peirce, a Republican, has repeatedly clashed with Gensler over his efforts to regulate the crypto sector.

In another post, Garlinghouse suggested three possible names for chair — Gallagher, Giancarlo and Brian Brooks, a former banking regulator who has worked for Coinbase and served as CEO of Bitfury, a bitcoin firm.