Blockchain funding agency CoinFund has appointed former United States commodities regulator Christopher Giancarlo as a strategic adviser — a transfer that ought to assist the Brooklyn-based firm navigate advanced and ever-changing regulatory necessities in its residence nation.
Sometimes called “Crypto Dad” by the blockchain group for his assist of digital property, Giancarlo was nominated as commissioner of the Commodity Futures Buying and selling Fee (CFTC) in 2014. In January 2017, he would change into the company’s appearing chair earlier than assuming the function full-time in August of the identical 12 months. He held the place till July 2019.
CoinFund president Christopher Perkins described Giancarlo as a “driving power” of innovation on the CFTC, particularly for advocating “considerate crypto coverage in the US.” Jake Bruckman, CoinFund’s founder, mentioned the previous authorities official will present experience at a time when home crypto rules had been altering in real-time.
Since leaving the CFTC, Giancarlo has change into a extra vocal supporter of digital property and has even served on the board of directors at crypto lending firm BlockFi. In June 2021, Giancarlo told Cointelegraph that the US dangers changing into a “backwater” with no central financial institution digital forex, or CDBC, and that China was clearly the chief in its growth. As early as January 2020, Giancarlo was on document saying that the United States needed a digital dollar to compete with China’s CBDC undertaking.
CoinFund has invested in a number of crypto-focused startups over the previous 12 months. As Cointelegraph reported, the blockchain investment firm closed an $83 million funding round in July 2021 to proceed supporting rising tasks within the blockchain and cryptocurrency business. The corporate was behind the current $50 million Series A funding round for digital asset curator Metaversal and likewise contributed to NFT marketplace Rarible’s $14 million funding round in June 2021.