Ripple CEO Dubs New CFTC Committee 'Olympics Crypto Roster'

The Commodity Futures Trading Commission (CFTC) has unveiled the members of its new Innovation Advisory Committee (IAC).

Ripple CEO Brad Garlinghouse has hailed the move as assembling the "Olympics crypto roster."

In an announcement made on Thursday, February 12, CFTC Chairman Michael S. Selig revealed a star-studded list of appointees. The newly formed committee is notable for its sheer weight of executive power.

It brings together the CEOs of major crypto exchanges, including Brian Armstrong (Coinbase), Tyler Winklevoss (Gemini), Kris Marszalek (Crypto.com), and Arjun Sethi (Kraken), alongside the architects of decentralized finance (DeFi) and blockchain infrastructure, such as Hayden Adams (Uniswap Labs), Anatoly Yakovenko (Solana Labs), and Sergey Nazarov (Chainlink Labs).

These crypto pioneers will sit at the same table with the titans of traditional finance (TradFi). The committee includes Terry Duffy (Chair & CEO, CME Group), Adena Friedman (Chair & CEO, Nasdaq), Jeff Sprecher (CEO, Intercontinental Exchange), and Frank LaSalla (CEO, DTCC).

An "energizing moment"

CFTC Chairman Michael Selig has described the initiative as an "energizing moment" for the agency.

The IAC will be primarily focused on helping the Commission to keep pace with breakthrough innovations, specifically artificial intelligence and blockchain technologies.

"The IAC’s work will help ensure the CFTC’s decisions reflect market realities so the agency can future-proof its markets and develop clear rules of the road for the Golden Age of American Financial Markets," Selig stated.

The inclusion of leaders from the prediction market and betting sectors, such as Shayne Coplan (Polymarket), Jason Robins (DraftKings), and Christian Genetski (FanDuel), is also notable.

"A strong leader"

Earlier today, Galaxy CEO Mike Novogratz took to X (formerly Twitter) to heap praise on the new Chairman, describing Selig as a "strong leader."

"Chair Selig is a strong leader at the CFTC," Novogratz wrote. "Pro-innovation, pro-growth, and keeping the US ahead in crypto."

He has noted that the US Securities and Exchange Commission is "finally" working together with the CFTC.

"This administration has been wonderful for the crypto industry," he concluded.