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As commodity regulators, few have managed to reach the cult after the chairman of the US Futures Commission (CFTC) J Christopher Giancarlo has met in recent weeks.
However, the market supervisor – nicknamed “cryptodad” by cryptocurrency enthusiasts – finds that this fame does not come without its disadvantages.
As CCN reported, Giancarlo earned the nickname “cryptodad” after making a surprisingly touching personal statement at a recent Senate audience on crypto-currencies, explaining how this technology has fascinated his children and his niece.
“It seems to me that we owe it to this new generation to respect its enthusiasm to respect its enthusiasm for virtual currencies with a thoughtful and balanced response, not disdainful,” he said.
Giancarlo, 58, immediately experienced a wave of followers on Twitter, after which he published a series of tweets thanking cryptocurrency users for the positive response and reminding them to conduct research before they make investments.
Is #crypto #FOMO #FridayFeeling? #DYOR at https://t.co/JBWIJbZTo7 #CryptoDad
– Chris Giancarlo (@giancarloCFTC) March 2, 2018
However, as Bloomberg reports, the newfound credibility of cryptodad has also attracted its fair share of criticism.
Critics argue that the mere fact that it discusses the emerging asset class will legitimize it in the eyes of investors, causing them to invest in risky products that they would not have. maybe not.
Moreover, as was the case with many personalities of the cryptocurrency, the crooks usurped the Twitter account of Giancarlo to try to make it appear as if he asked the users to send him funds.
Eventually, Giancarlo, a Republican, caused a bit of kerfuffle when he tweeted a photo of an inter-agency meeting that appeared to have been assisted only by other Republicans. Democrats, both in the CFTC and on Capitol Hill, immediately accused Giancarlo of violating federal laws on public meetings.
Nonetheless, the commission defended Giancarlo’s Twitter activity, arguing that it’s a useful platform for directing investors toward CFTC educational materials.
“The President tweeted a staggering total of 12 times since testifying before the Senate Banking Committee that has sparked such interest in the CFTC’s work on cryptocurrency,” said Erica Richardson, word of the CFTC. “Nine of these tweets deal with investor protection and proactive regulatory work that the agency performs on FinTech and cryptocurrency.”
“[Giancarlo] considers Twitter as a valuable platform for reaching various audiences on educating clients,” added Richardson. “He will continue to use Twitter to guide followers in CFTC educational materials.”
Featured image from YouTube.
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