FTX, the third-largest crypto exchange, courted many big political personalities for its upcoming Crypto Conference in the Bahamas. The Bahamas’ Prime Minister, Philip Davis, the 42nd President of the United States, Bill Clinton, and former British Prime Minister Tony Blair will serve as panellists at the two-day conference later this month. Cathie Wood, CEO Jeremy Allaire of Circle, and U.S. Presidential contender Andrew Yang are among the other famous panellists.
They are also the latest move taken by FTX and other crypto majors in bringing on prominent celebrities in order to garner a larger audience. The roster of speakers includes a slew of well-known crypto and financial figures, the three stick out for their political backgrounds.
Political personalities as panellists sparks Twitter debate
Crypto Twitter responded with suspicion to the news, pointing out that Clinton, Blair, and Davis have little to no expertise in crypto or blockchain technology.
Clinton only has some links to cryptocurrency. In 2018, the former US President was a keynote speaker at a Ripple event. His speech was severely panned for having little to do with cryptocurrency. However, social media users commented that Clinton’s participation had undoubtedly contributed to the event’s interest.
Commentators have seen a similar tendency recently, claiming that the inclusion of leaders such as Clinton and Blair on the panel was a publicity stunt rather than meaningful conversation.
Former government officials find a home in crypto world
Crypto firms are also no strangers to employing former government officials, which is a standard strategy used by Wall Street corporations to assure regulatory compliance.
According to a survey published earlier this year, roughly 240 former government employees have changed occupations to pursue employment in crypto. Former SEC Chairman Jay Clayton is the most renowned of these, having joined an Israeli crypto business in 2021.
In 2021, FTX appointed former CFTC Commissioner Mark Wetjen as head of policy and regulatory strategy. The development coincides with increased lobbying by cryptocurrency businesses to adopt friendlier rules in the United States. Hiring former officials also provides companies with a greater understanding of the regulatory landscape.
