Former Commodities Director Replaced From BlockFi’s Board After 4 Months

BlockFi’s former board member Christopher Giancarlo has left and is now being replaced by Ellen-Blair Chube.

By
John Tunney
on
September 3, 2021
Category:
Blockchain News

BlockFi’s Board Replaces ​​Christopher Giancarlo

The US-based crypto trading and investment platform, BlockFi, recently replaced esteemed board member Christopher Giancarlo, also known as ‘Crypto Dad,’ with Ellen-Blair Chube. Giancarlo has left the position with many questions swirling. 

BlockFi reported news of the Chube filling the vacated board position on September 1st, 2021. Although Giancarlo left, he plans to still continue providing guidance and advisory services.

“I’m looking forward to continuing to advise this impressive group of leaders as they work to bridge the worlds of traditional finance and blockchain technology,” Giancarlo said following his departure from BlockFi in a recent press release.

The news of Crypto Dad leaving BlockFi is being considered a significant loss for the BlockFi platform. Giancarlo, who served on the Commodities Future Trading Commission (CFTC), is a strong advocate of crypto and bridging the blockchain world with the traditional finance world. 

Christopher Giancarlo (Crypto Dad) shown above | Source

Although still promising to advise BlockFi, Giancarlo’s departure has sparked concern with regards to BlockFi. The concerns arise from the fact that the Crypto Dad spent only four months with BlockFi before calling it quits. Many now speculate and question why Giancarlo left BlockFi.

Giancarlo’s replacement, Ms. Chube, comes with over twenty years of financial advisory experience. She will flex that experience by overseeing high-level client engagement. Zac Prince, CEO and Founder of BlockFi, was excited by the new face arriving to the Board.

“We are pleased to share that Ellen-Blair has joined the BlockFi Board of Directors. The intersection of strong financial services experience married with her deep knowledge of the public sector will make Ellen-Blair a real asset to the BlockFi Board of Directors,” Prince said in the press release.

I’ll Pass...

As speculation grows for why Giancarlo left BlockFi, many are assuming the worst, proposing there may exist a major issue or flaw with BlockFi. 

Matthew Samendini, an Arizona State University professor, specializing in corporate governance, spoke on the matter.

“If someone independent is leaving the board, that’s a huge signal. It’s like somebody putting an offer on a home, doing the inspection, taking a look at the inspection and saying, ‘Yeah, I’ll pass on the house,’” Semadeni said of Giancarlo’s brief tenure, who was quoted by Danny Nelson in a recent CoinDesk article.

At the current moment, it is unclear why Giancarlo left BlockFi. Time can only tell if now turned BlockFi skeptics are found to be right. 


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John Tunney

John Tunney is an accomplished analyst and crypto enthusiast. The UCLA alum has been actively reporting and blogging for 3 years, and has a passion for all things finance.

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