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Read more: Top 5 Meme Coins On Aptos Ecosystem With Potential in 2024
The CFTC’s Digital Assets Subcommittee is a branch of the Global Markets Advisory Committee (GMAC), which advises the CFTC on rulemaking affecting international trade and business. Established in 1998, the GMAC features top financial executives from firms such as Citadel, Goldman Sachs, and HSBC.
Shaikh joins a group of 34 industry representatives on the CFTC’s Digital Assets Subcommittee, including executives from notable companies like BlackRock, Polygon Labs, Uniswap Labs, and BNY Mellon. His inclusion is seen as a further endorsement of Aptos Labs, which he co-founded with Avery Ching. Both previously worked on Facebook’s blockchain project, Diem, which was discontinued in February 2022.
Aptos Labs, founded by former Meta employees, developed the Aptos blockchain, a layer 1 blockchain that launched in October 2022. This blockchain emphasizes low-cost transactions and high throughput, utilizing the Move programming language initially designed for Diem. The company is dedicated to advancing blockchain technology and represents various projects within the Web3 space.
Recently, Aptos Labs announced a significant partnership with Microsoft, Brevan Howard, and South Korean telecommunications company SK Telecom to develop a new decentralized finance (DeFi) platform. This collaboration aims to leverage Microsoft’s infrastructure to integrate artificial intelligence (AI) with blockchain technology. One of their joint initiatives, Aptos Assistant, is a chatbot designed to enhance user experience by merging AI and blockchain functionalities.
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