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Kofi Ansah
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FTX US, the US branch of one of the leading crypto exchanges worldwide, has announced that Mark Wetjen, former CFTC Commissioner under the Gensler administration, has joined the company. According to the announcement from the company, Wetjen will lead its public affairs efforts as Head of Policy and Regulatory Strategy, running the company’s policy outreach and Regulatory Strategy.
Wetjen served as the commissioner on the Commodity Futures Trading Commission during the latter years of Obama’s presidency, serving alongside Gary Gensler, who at the time was chairing the CFTC and is currently the chairman of the Securities and Exchange Commission.
Wetjen and Gensler were the driving force behind the implementation of the regulatory overhaul demanded by the Dodd-Frank Act. Wetjen briefly took up the reins as acting chairman, following Gensler’s departure.
Wetjen also has over 20 years of experience in the practice of law, policymaking, regulatory strategy, and exchange operations, under his belt. He was most recently CEO of MIAX Futures, where he oversaw crypto-derivative products and strategic initiatives.
Mr. Wetjen was also a member of the board of directors of LedgerX, the first licensed crypto-native derivatives exchange in the United States, which was recently acquired by FTX US and subsequently renamed FTX US Derivatives.
Mr. Wetjen will now lead FTX US communications with US regulatory and legislative bodies, including the CFTC, the SEC, and different House and Senate Committees, in his new post. He will also guide the company on its compliance standards and reporting procedures while and continue to serve as a member of FTX US Derivatives’ board of directors.
President of FTX US, Brett Harrison, after the news, stated that “We’re extremely lucky to bring Mark on board at this pivotal moment for FTX US. We’ve created FTX US Derivatives with the intention of becoming the first US-regulated crypto exchange to provide crypto derivatives trading to our user base, and Mark’s experience and guidance will be instrumental in achieving this goal.”
Wetjen also expressed his joy over his next adventure stating that he was thrilled to join FTX US which has an impeccable record of product innovation coupled with a healthy respect for the rules to ensure fair and orderly markets while also protecting the consumer.
“I look forward to helping FTX US continue expanding its product offerings in that same manner, while also advancing the regulatory conversation of the crypto landscape on behalf of the company,” Wetjen added. Attempts to get a response from FTX US representatives on their newest member have proved futile.
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