Former Commodity Futures Trading Commission (CFTC) Chairman Heath Tarbert announced in a Wednesday tweet that he will officially depart the federal regulatory agency Friday.

• His tenure as chairman included the classification of ether as a commodity, the launch of ether futures contracts and an expansion of regulated crypto derivative products.
• Tarbert had previously said his 18-month term would end once President Joe Biden took office. He stepped down from the chairmanship in January and was replaced acting chairman Rostin Behnam.
• Biden has not yet nominated a permanent replacement but crypto-savvy academic Chris Brummer is said to be in the lead for the position.