In a bizarre move announced earlier in the week, an employee moved from the cryptocurrency field back to traditional finance as announced by the United States Commodity Futures Trading Commission (CFTC). Former Coinbase Inc.’s, Andrew Ridenour, rejoins U.S CFTC in a move that he has named a “homecoming” after spending close to 2 years at the cryptocurrency firm.
The new appointee will work as a senior counsel to the Chairman of the commission, Heath P. Tarbert, alongside three other new senior counsel.
The official announcement from the CFTC further confirms the addition of nine employees to the commission including Jaime Klima to serve as Chief of Staff and Chief Operating Officer of the CFTC. Speaking on the recent appointments, Tarbert praises his team saying,
“Together they bring diverse experience in financial services regulation, and I am thrilled to have each of them join my team.”
Andrew wrote on LinkedIn,
“I'm happy to be returning “home” to the CFTC in Chairman Tarbert's office. Looking forward to an amazing time at the Commission. Special thanks to the Chairman for giving me the opportunity to re-enter government service.”
In Brief: Andrew Ridenour Profile
According to his LinkedIn profile, Andrew graduated with a bachelors in Political Science in 1999 and further a Masters’ in International Relations in 2002. He went on to join Fowler Rodriguez LLP, where he worked as an associate for 2 years before moving to Haynes and Boone LLP in 2005.
After three years at H&B LLP, Andrew joined the US CFTC, working there for 9 years as a special counsel in the division of market oversight and as a senior trial attorney. In January 2018, Andrew joined the Coinbase Inc. team and has worked as a product counsel for institutional products.
At Coinbase, Andrew counseled within business units, developed the exchange’s institutional and custodial offerings, developed legal structures for margin trading, lend/borrow, derivatives, and over-the-counter (OTC) for cryptocurrencies.
New Crypto Regulation From Tarbert?
Tarbert joined the U.S CFTC as Chairman less than two weeks ago promising a new wave of regulation to the financial trading products.
The appointment of a crypto freak in his advisory council opens up an opportunity for more progressive regulations on the field. His predecessor, J. Christopher Giancarlo was a big fan of cryptocurrencies – all hope now lies on Tarbert to take the ecosystem forward.