Former CFTC Chairman Christopher Giancarlo Invests in BlockTower Capital Crypto Fund

Former chair of the U.S. Commodity Futures Trading Commission (CFTC) Christopher Giancarlo, and American billionaire and investor Marc Lasry invested an undisclosed amount in the cryptocurrency hedge fund BlockTower Capital. Bloomberg reports.

Giancarlo served as head of the CFTC from 2017 to 2019. Under his leadership, the regulator approved the trading of bitcoin futures. After leaving the post, Giancarlo led the nonprofit organization Digital Dollar Project, which promotes the idea of issuing a national digital currency.

Marc Lasry, co-founder and CEO of Avenue Capital Group, is known for his bullish outlook on Bitcoin, which he has voiced, including during the bear market.

Lasry and Giancarlo confirmed the investment but declined to comment.

Founded in August 2017 by Ari Paul, head of Susquehanna, and former Goldman Sachs vice president Matthew Getz, the fund focuses on investments in various cryptocurrencies and blockchain projects.

BlockTower Capital’s early backers were family offices and major venture funds, including Union Square Ventures and Andreessen Horowitz.

In January this year bullish bet on Bitcoin proved more popular than buying technology stocks, according to Bank of America in its January survey of asset managers.

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