Former CFTC commisioner and bitcoin advocate Bart Chilton passes away at age 58
April 29, 2019, 6:53AM EDT
1 min read
Bart Chilton, the former commissioner at the U.S. Commodity Futures Trading Commission, has died at age 58 due to a “sudden illness,” RT announced on Saturday.
Between 2007 and 2014, Chilton headed the CFTC’s Energy and Environmental Advisory Committee and the Global Markets Advisory Committee. Following his departure from the CFTC, he became a senior adviser at law firm DLA Piper. He also hosted RT’s financial show Boom Bust.
Chilton was also curious and, at times, supportive of cryptocurrencies. He believed crypto assets were “not a scam or fraud,” saying there was legitimacy behind Bitcoin. In his Forbes article published earlier this year, he discussed the “Good, Bad And Ugly” of cryptocurrencies; he claimed “the 80 percent price plummet we saw from December of 2017” was a positive thing.
With more than $100 billion in market cap across all chains, it is likely that the DeFi market cap will grow to $200 billion by 2025. However, many users still face various technical barriers when using decentralised platforms to do on-chain farming, staking and trading, while off-chain solutions face liquidity issues, fiat restrictions and the lack of a central multichain to support crypto assets and institutional-grade custodians.
The Federal Reserve dropped a new central bank digital currency white paper on Thursday. While largely avoiding the topic of crypto, it suggests that a US CBDC could compete with "private digital money."