Former CFTC Chair Chris Giancarlo leaves Willkie Farr to focus on digital asset advisory

Former CFTC Chairman Chris Giancarlo is leaving the legal profession to commit himself fully to the digital asset space as a strategic adviser for fintech and cryptocurrency startups.

The announcement came via a social media post on Sunday, where Giancarlo confirmed his departure from the law firm Willkie Farr & Gallagher and his official retirement from legal practice. 

By moving into a full-time advisory role, he plans to provide guidance to executives and boards navigating the evolving digital economy.

“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,” Giancarlo stated.

Known throughout the industry as “Crypto Dad,” Giancarlo earned his reputation during his tenure at the Commodity Futures Trading Commission. 

He joined the agency as a commissioner in 2014 under the Obama administration and later served as chairman from 2017 to 2018 following a nomination by Donald Trump. 

His leadership was defined by the pivotal decision to greenlight the first Bitcoin futures markets in the United States, a move that helped bridge the gap between traditional finance and nascent digital markets.

Giancarlo has remained a prominent figure in regulatory circles since leaving public office, recently working with the crypto-focused bank Sygnum on global strategy and compliance. 

During a recent appearance on “The Wolf of All Streets” podcast, he addressed the slow pace of legislative efforts like the CLARITY Act. 

He suggested that even without immediate action from Congress, the CFTC and the SEC possess the necessary tools to establish a functional framework for the industry.

Modernizing the financial system remains a priority for the former regulator. He warned that while regulatory uncertainty might cause traditional banks to hesitate, the underlying tech is too important to ignore.

“I think there’s a recognition that this is the new architecture of finance and America, our financial institutions are the world’s dominant financial institutions. We need to modernize that. We need to adopt this technology,” he said.

The transition follows a similar path taken by other high-ranking regulators. Caroline Pham, who previously served as the acting chair of the CFTC, moved into the private sector last December to take on the role of chief legal officer at MoonPay.