CFTC ex-chairman Christopher Giancarlo and American billionaire and investor Mark Lasry have invested an unnamed amount in BlockTower Capital, a cryptocurrency hedge fund.
Giancarlo served as head of the CFTC from 2017 to 2019. Under his leadership, the regulator approved Bitcoin futures trading. After leaving this position, Giancarlo headed the Digital Dollar Project, a non-profit organization that promotes the idea of issuing a national digital currency.
Avenue Capital Group co-founder and CEO Mark Lasry is known for his bullish expectations for Bitcoin, which he voiced, including during the height of the bear market.
Lasry and Giancarlo confirmed the investment but declined to comment.
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Founded in August 2017 by Susquehanna CEO Ari Paul and ex-Vice President of Goldman Sachs Matthew Goetz, the fund focuses on investing in various cryptocurrencies and blockchain projects.
As a reminder, the first investors in BlockTower Capital were family offices and large venture capital funds, including Union Square Ventures and Andreessen Horowitz.
In January of this year, betting on bitcoin's gains outpaced buying tech stocks, according to Bank of America in a January survey of asset managers.