FTX US, the US arm of the FTX cryptocurrency exchange, has announced the appointment of former CFTC Commissioner, Mark Wetjen, as the company's Head of Policy and Regulatory Strategy.
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In a press release, the exchange says Wetjen will work on the exchange's communications with US regulatory agencies, such as the CFTC, SEC and others. He will also be advising FTX US on its "compliance standards and reporting operations."
"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 FTX US," Wetjen said.
Prior to CFTC, Wetjen worked at MIAX Futures and was a member of the board of directors of LedgerX. The appointment comes after FTX Trading, the exchange's parent company, raised $420,6 million in a Series B-1 funding round. With the latest investment round the company's valuation reached the $25 billion mark.
Over 65 investors, including Ontario Teachers' Pension Plan Board, Sequoia Capital, and Sea Capital participated in the round. The company said it plans to use the proceeds to expand into new jurisdictions and improve current offerings.
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