0
0
White House Considering New CFTC Chair Picks Amid Quintenz Stalemate: Bloomberg
Trump donor and Gemini co-founder Tyler Winklevoss reportedly played a key role in blocking Quintenz's confirmation.
0
0
The Trump administration is actively exploring backup candidates to chair the CFTC as the nomination of former a16z crypto policy head Brian Quintenz remains in limbo, Bloomberg reported Thursday.
What’s the Scoop?
- Nomination stalled: Quintenz, first nominated in February, has yet to be confirmed. The administration delayed a Senate Agriculture Committee vote in July but publicly reaffirmed its support later that month.
- CFTC in limbo: With only one active commissioner—Caroline Pham, currently serving as acting chair—the agency is operating well below its five-member mandate. Pham has said she plans to step down once a permanent chair is confirmed.
- Industry dissent: Prominent crypto figures Tyler and Cameron Winklevoss have opposed Quintenz’s nomination, saying he is out of step with Trump’s crypto agenda. In a recent twist, Quintenz alleged the twins lobbied against him after he refused to intervene in a Gemini complaint about CFTC staff conduct during a prior investigation.
- Crypto in focus: The CFTC is expected to play a central role in upcoming crypto regulation, as Congress advances legislation to expand the agency’s oversight over digital assets. The White House may now favor candidates with strong crypto policy backgrounds.