‘Crypto Dad’ Is All In: Former CFTC Boss Quits Law to Go Full-Time in Crypto

TLDR

• Former CFTC chair Chris Giancarlo is retiring from law to advise crypto and fintech companies full-time
• Giancarlo earned the nickname “Crypto Dad” for his pro-crypto stance while leading the CFTC from 2017 to 2019
• He oversaw the launch of the first federally regulated Bitcoin futures markets in the US
• He has previously advised firms including Sygnum Bank, Paxos, Polymarket, and the Chamber of Digital Commerce
• He was reportedly considered as a candidate to lead the SEC under the Trump administration but declined interest

Chris Giancarlo, the former chair of the US Commodity Futures Trading Commission, is leaving his role as senior counsel at law firm Willkie Farr & Gallagher to become a full-time adviser to cryptocurrency and fintech companies.

Giancarlo first joined the CFTC as a commissioner in 2014, appointed by President Barack Obama. President Donald Trump later nominated him as chairman, a role he held from 2017 to 2019.

During his time as chair, Giancarlo approved the first federally regulated Bitcoin futures markets in the US. He allowed CME Group and Cboe Futures Exchange to self-certify Bitcoin derivatives.

He also set up LabCFTC, the agency’s dedicated innovation unit, during his tenure.

His supportive approach to crypto at a time when most federal regulators were skeptical earned him the nickname “Crypto Dad.”

Since leaving the CFTC, Giancarlo has stayed active in the crypto space. He has served as an adviser to Sygnum Bank and a board member at stablecoin issuer Paxos.

He was named an adviser to prediction market platform Polymarket in 2022 and has been a longtime adviser to the Chamber of Digital Commerce.

From Regulator to Adviser

Giancarlo has also been a vocal advocate for a digital US dollar. He co-founded the Digital Dollar Project, a non-profit pushing for a tokenized form of the dollar issued directly by the Federal Reserve.

He co-authored a friend-of-the-court brief supporting Crypto.com in its legal dispute with Nevada gaming regulators, showing continued involvement in crypto legal matters.

The Trump administration reportedly considered Giancarlo for the role of SEC chair during the president’s second term. Giancarlo said he was willing to help during the transition but had no interest in a full-time regulatory role.

His latest book, “The New Adventures of CryptoDad: The Quest for Financial Freedom in the 21st Century,” covers the crypto industry’s recent changes through political and technological shifts.

A Pattern at the CFTC

Giancarlo is not the only former CFTC leader to move into the crypto industry. In December, former acting CFTC chair Caroline Pham stepped down to become chief legal officer at crypto firm MoonPay.

Giancarlo’s most recent advisory work includes guiding Swiss crypto bank Sygnum on global regulations and strategic partnerships.

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