Key Takeaways President-elect Donald Trump has picked Republican lawyer Andrew Ferguson as his nominee to lead the Federal Trade Commission, potentially succeeding Lina Khan.Khan has been tough on corporate mergers—and has been cracking down on Big Tech during her time heading the FTC.

Alphabet led a Big Tech rally on Wednesday, with its stock hitting a record high after U.S. President-elect Donald Trump picked Federal Trade Commissioner Andrew Ferguson to lead the consumer protection and antitrust agency.

President-elect Donald Trump’s pick of Andrew Ferguson to head the Federal Trade Commission is the latest sign that his administration plans to continue a crackdown on Big Tech bad actors that began during his first term in office,