Former CFTC Commissioner Jill Sommers has joined the board of directors of cryptocurrency exchange FTX US Derivatives. This was announced by representatives of the company.
Sommers is currently a senior advisor to Patomak Global Partners, a board member of the Ethics and Compliance Initiative and the nonprofit organization Everyone Wins! DC. She previously served two consecutive terms as a CTFC commissioner until July 2013.
Sommers also has experience in the derivatives industry, including as director of policy and head of government relations for ISDA and managing director of regulatory affairs for CME.
Since launching in 2017, FTX US Derivatives, formerly known as LedgerX, has made cryptocurrency options and swap contracts available to investors 24/7. Its offerings include physical settlement of all contracts, blockchain and algorithmic trading capabilities for institutional investors.
Recall, the CFTC compared cryptocurrencies to the lottery.