He’s at it again! CFTC Chairman Chris Giancarlo has taken to Twitter to promote informed investment in cryptocurrencies.
Giancarlo earned his accolade as Crypto Dad from the crypto community following his opening speech at the SEC Commission on virtual currencies. Drawing upon his own experience as a father of children highly excited by virtual currencies, the former business executive called for an open-minded approach and fair regulation.
Since the speech he has adopted the title, inserting #CryptoDad into his official Twitter biography and earning the love of a large part of the cryptocurrency community. Taking to Twitter again following the event, Giancarlo thanked investors for their support:
Giancarlo is instantly likable – and not just from his beaming profile pic and progressive attitude towards distributed ledger technology. His use of language on the official CFTC account, which can only be described as ‘down with the kids’, sets him apart from what most people would expect from a financial regulation official. It’s fresh, funny, and we can’t get enough of it.
Like any good dad however, Giancarlo knows how to balance humor with sound advice. Earlier this month investors were warned to watch out for pump and dump scams and not blindly follow tips from social media or jump on sudden price spikes. Instead customers should:
“Thoroughly research virtual currencies, digital coins, tokens, and the companies or entities behind them in order to separate hype from facts.”
This was the message behind the humor of today’s post too, with the tweet linking to a government document providing information for investors interested in virtual currencies.
Having a cryptocurrency enthusiast among the highest levels of regulators is a huge asset for developing blockchain technologies – and has to be a bullish sign for prices. Not only will Giancarlo fight our corner against strong regulations, his presence is promoting awareness and understanding. It’s likely we’ll see more institutional investors with deep pockets, as well as members of the public looking to get involved in crypto on the Chairman’s recommendation. The concept of crypto as the technology of our future – a gift we must protect for our children, is a huge step away from what many still see as the criminal currency of the dark web.
Giancarlo will serve until April 2019 and so we have at least another year of protection from the crypto dad. By that point cryptocurrencies will likely have developed immensely, possibly able to scale to mainstream adoption. The technology may be hugely more popular – socially accepted as a superior payment system.
If we get there, we may well look back and realize we have the crypto dad to thank for it. As a defender of the technology in its vulnerable infancy, Giancarlo could go down in crypto history. Here’s to you, crypto dad!
Featured image from Shutterstock.