CoinFund hires former CFTC chair as adviser

Former chairman of the US Commodity Futures Trading Commission (CFTC), Christopher Giancarlo, has joined CoinFund’s advisory board, the cryptocurrency-focused investment firm.

J. Christopher Giancarlo, a former Wall Street regulator who coin enthusiasts nicknamed CryptoDad, is joining the blockchain-focused investment firm CoinFund as an adviser. https://t.co/kc9yzEZy3J via @markets

— CoinFund (@coinfund_io) January 13, 2022

In a statement to The Block, the former official said he hopes to help CoinFund “look a little into the future.” According to the company’s representative, Giancarlo is their first strategic adviser.

In 2021, CoinFund led a funding round for Moonbeam, NFT marketplace Rarible and the liquid-staking service ClayStack, and also invested in Flare Network and the P2E-games platform Rainmaker Games.

In June, the company announced the launch of a new investment instrument for NFT companies called Metaversal.

Giancarlo led the CFTC from 2017 to 2019. Under his leadership, the regulator approved trading of Bitcoin futures.

After his resignation the former official headed the nonprofit Digital Dollar Project, which promotes the idea of issuing a national digital currency, and invested in the cryptocurrency hedge fund BlockTower Capital.

In April 2021, Giancarlo joined the board of the crypto-lending platform BlockFi. Four months after his appointment, he left the board, but continued to work with the firm as an adviser.

In December, the former CFTC chief said that the market, not regulators, should determine the legitimacy of assets or securities.

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