Texas Railroad Commissioner Wayne Christian is peddling a new crypto token tied to the value of a barrel of West Texas Intermediate crude oil, raising concerns about potential conflicts of interest given his position as an elected official to the state agency that oversees the oil and gas industry in Texas — and whose regulatory decisions could impact the value of the token.
Christian, a Republican and one of three members of the Railroad Commission, is listed as a member of the board of directors and chair of the advisory board of Energy Substantiation, the company launching the West Texas Intermediate Coin, or $WTIC, according to materials obtained by The Texas Tribune that the company shared with prospective investors as recently as October.
Christian pitched prospective investors on $WTIC ahead of the coin’s public launch later this year, according to an email from Christian that also was obtained by the Tribune.
