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Former U.S. Commodity Futures Trading Commission (CFTC) Chairman Christopher Giancarlo has joined the Board of Directors of New York-based fintech company Digital Asset.
Christopher Giancarlo said that he will be consulting at Digital Asset regarding asset tokenization, distributed ledger technology, and the possible impact of changes in legislation on the cryptocurrency space. Giancarlo is currently a Senior Counsel at the law firm Willkie Farr & Gallagher. He is also known as a co-founder of the Digital Dollar Project, which is developing the digital currency of the Central Bank.
“I am delighted to be joining the Board of Directors of Digital Asset at an important stage in the evolution of Web3. We are on the cusp of a digital economic transformation, so firms need secure ways to interact and share assets,” Giancarlo wrote.
During his tenure as Chairman of the CFTC, Giancarlo was a member of the US Financial Stability Oversight Committee and the US President’s Financial Markets Task Force, and a member of the Executive Board of Directors of the International Organization of Securities Commissions (IOSCO). In July 2019, Giancarlo stepped down as chairman of the CFTC and was replaced by Heath Tarbert, who passed the baton to Rostin Behnam in 2021.
Giancarlo is no longer a representative of any US government agency. Last year, he joined the board of directors of cryptocurrency lending service BlockFi and recently joined investment firm CoinFund as a strategic advisor. Many participants in the cryptocurrency market called Giancarlo “crypto dad” for the fact that during his five years at the CFTC, he supported digital assets and suggested applying more benign regulatory methods to the industry so as not to harm its development.
However, Giancarlo clarified that he has never been a strong supporter of bitcoin and other cryptocurrencies. In 2020, he stated that he does not consider XRP a security, since this cryptocurrency is quite decentralized. Since Digital Asset was founded in 2014, the organization has raised over $300 million in funding. Last April, Digital Asset raised $120 million in a Series D funding round. In addition, Digital Asset has acquired blockchain and cryptocurrency firms: Hyperledger , Bits of Proof, Blockstack and Elevence.
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