Prominent financial services company, BlockFi has replaced Christopher Giancarlo, the former Commodity Futures Trading Commission [CFTC] chair. Giancarlo, who was popularly known as “Crypto Dad,” is being succeeded by Ellen-Blair Chube who joined BlockFi’s Board of Directors.
Following the development, the exec was quoted saying,
“I was immediately struck by the caliber of leadership and strength of retail and institutional product offering at BlockFi. So many of the crypto-firsts have been pioneered by this organization, and I am excited to count myself as part of the Board that will support BlockFi’s mission of financial inclusion, continued innovation and the next tranche of industry firsts that are to come.”
Giancarlo’s unexpected exit from BlockFi
The official announcement did not mention the reason behind Giancarlo departure after being in the position for only four months. However, the company revealed that the former commissioner will continue to offer strategic counsel to the company in an advisory role. Chube, on the other hand, is a Managing Director and Client Service Officer at the global financial services firm, William Blair. According to reports she has nearly two decades of expertise in strategic leadership across government and the private sector for the benefit of clients on the buy and sell-side.
Giancarlo had previously served as previously worked for five years as the chair of the independent federal agency that regulates commodity futures and options markets in the US. He earned his nickname as “Crypto Dad” for his early embrace of cryptocurrency assets and overseeing the rollout of regulated Bitcoin ETF. After the stepping down, he revealed looking forward to continuing to advise the “impressive group of leaders,” and added,
“The best is yet to come for BlockFi and I know that as crypto assets take a more prominent role in both retail and institutional investors’ strategies, BlockFi will be there to lead the way.”