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News

FTX US Derivatives Subsidiary Adds Former CFTC Commissioner To The Board

September 2, 2022 - Around 2 mins mins to read
Former Commodities and Futures Trading Commission (CFTC) commissioner Jill Sommers has joined the board of Sam Bankman-Fried and FTX US Derivatives (previously LedgerX).
FTX US Derivatives Subsidiary Adds Former CFTC Commissioner To The Board
Former CFTC Jill Sommers

Jill Sommers was initially nominated to the commission by George W. Bush and later by Barack Obama.

She had worked in the derivatives market for the International Swaps and Derivatives Association and the Chicago Mercantile Exchange before joining the CFTC. Sommers served on the commission for six years and is now a senior advisor with the financial consultancy of Patomak Global Partners.

Sommers said in the release announcing her board seat:

“The company has been at the forefront of bridging the gap between traditional and digital assets while staying true to its founding principles of transparency and leading the charge toward becoming the most regulated digital asset exchange in the world.”

CEO of FTX Sam Bankman-Fried also welcomed the new member of the company:

Jill Sommers returns to the industry amidst FTX and Sam Bankman-Fried’s attempts to have the CFTC as the primary regulator for cryptocurrency markets. FTX has recently released policy pieces to promote this view and push legislation. This would make the CFTC the primary regulator of the cryptocurrency markets.

FTX US Derivatives Subsidiary Adds Former CFTC Commissioner To The Board

Another former CFTC commissioner, Mark Wetjen, is now in charge of FTX.US’s policy and regulatory strategy. The exchange has lobbied the commodities regulator to give it more leeway in offering leveraged bitcoin trading to US retail customers.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

CoinCu News

CFTC

FTX

ftx us

Jill Sommers

LedgerX

mark wetjen

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

FTX US Derivatives Subsidiary Adds Former CFTC Commissioner To The Board

Former Commodities and Futures Trading Commission (CFTC) commissioner Jill Sommers has joined the board of Sam Bankman-Fried and FTX US Derivatives (previously LedgerX).
FTX US Derivatives Subsidiary Adds Former CFTC Commissioner To The Board
Former CFTC Jill Sommers

Jill Sommers was initially nominated to the commission by George W. Bush and later by Barack Obama.

She had worked in the derivatives market for the International Swaps and Derivatives Association and the Chicago Mercantile Exchange before joining the CFTC. Sommers served on the commission for six years and is now a senior advisor with the financial consultancy of Patomak Global Partners.

Sommers said in the release announcing her board seat:

“The company has been at the forefront of bridging the gap between traditional and digital assets while staying true to its founding principles of transparency and leading the charge toward becoming the most regulated digital asset exchange in the world.”

CEO of FTX Sam Bankman-Fried also welcomed the new member of the company:

Jill Sommers returns to the industry amidst FTX and Sam Bankman-Fried’s attempts to have the CFTC as the primary regulator for cryptocurrency markets. FTX has recently released policy pieces to promote this view and push legislation. This would make the CFTC the primary regulator of the cryptocurrency markets.

FTX US Derivatives Subsidiary Adds Former CFTC Commissioner To The Board

Another former CFTC commissioner, Mark Wetjen, is now in charge of FTX.US’s policy and regulatory strategy. The exchange has lobbied the commodities regulator to give it more leeway in offering leveraged bitcoin trading to US retail customers.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Harold

CoinCu News