Crypto Dad Gets Serious: Former CFTC Chair Ditches Law Firm to Go Full-Time in Crypto

Chris Giancarlo, the former chair of the US Commodity Futures Trading Commission who earned the nickname "Crypto Dad" for his early support of the industry, is leaving law to become a full-time adviser to crypto and fintech companies. Apparently, advising crypto firms on the side wasn't cutting it anymore—turns out you can't moonwalk out of a law firm without fully committing. Giancarlo posted to X on Sunday that he was leaving the law firm Willkie Farr & Gallagher and retiring from law altogether. "From here on, I'll devote my time to advising founders & builders of FinTech & Digital Assets and their CEOs and boards, research & writing on public policy issues, and continuing work with non-profit programs," he said. That's a lot of "ands" for someone who claims to be retiring. Giancarlo was sworn in as a CFTC commissioner in 2014 during the Obama administration. President Donald Trump later nominated him to be chairman, a position he held between August 2017 and July 2018. During his tenure, he oversaw the approval of the first Bitcoin futures markets in the US, earning his "crypto dad" moniker. Yes, he's the reason your parents' Fidelity account technically has Bitcoin exposure now. He has continued to weigh in on crypto regulatory matters and has advised crypto bank Sygnum, helping guide the firm on global regulations and strategic partnerships. Because nothing says "I'm actually retired" like advising one of the most regulated corners of the crypto space. Giancarlo isn't the only CFTC chair to make the jump from government to the crypto sector. In December, former CFTC acting chair Caroline Pham stepped down to become chief legal officer at crypto firm MoonPay. It seems the regulatory playground is losing its stars to the actual playground.