CFTC Unveils CEO Innovation Council to Advance Crypto, Tokenization, and Derivatives Market Reform

The U.S. Commodity Futures Trading Commission (CFTC) has revealed the first slate of industry leaders joining its new CEO Innovation Council, a high-level group designed to guide the agency on the fast-evolving world of derivatives market structure, including tokenization, crypto assets, blockchain infrastructure, 24/7 trading models, perpetual futures, and prediction markets. The council brings together top executives from both traditional financial institutions and major crypto firms as the agency accelerates its digital-asset policy agenda.

Notable crypto-sector leaders such as Tyler Winklevoss of Gemini, Arjun Sethi of Kraken, and Shayne Coplan of Polymarket will serve alongside CEOs from major legacy market operators, including CME Group, Nasdaq, Intercontinental Exchange, the London Stock Exchange Group (LSEG), Cboe Global Markets, and Bullish, among others. Acting CFTC Chairman Caroline Pham emphasized that the group was assembled within two weeks, noting her appreciation for the CEOs’ willingness to contribute their insight during a pivotal period for U.S. derivatives and blockchain innovation. According to Pham, their expertise will help the commission “prepare for the future and beyond.”

The council’s formation follows a series of rapid crypto-related initiatives at the CFTC. This week, the agency launched a pilot program enabling crypto collateral in derivatives markets. That announcement came shortly after Pham confirmed that Bitnomial—whose CEO, Luke Hoersten, is part of the council—had begun offering leveraged spot crypto trading under guidance she supported within U.S. derivatives frameworks.

The full list of members includes Coplan (Polymarket), Donohue (Cboe), Duffy (CME Group), Farley (Bullish), Friedman (Nasdaq), Hoersten (Bitnomial), Mansour (Kalshi), Marszalek (Crypto.com), Schwimmer (LSEG), Sethi (Kraken), Sprecher (Intercontinental Exchange), and Winklevoss (Gemini). Bullish is CoinDesk’s parent company.

Pham’s accelerated digital-asset agenda comes as her term nears its end. President Donald Trump’s nominee for CFTC chairman, Mike Selig, is expected to be confirmed soon, inheriting an ambitious slate of crypto policy projects shaped under Pham’s leadership and aligned with the administration’s push to strengthen the U.S. position as a global crypto hub.