The future leadership of the US Commodity Futures Trading Commission (CFTC), which is already facing the departure of four commissioners in 2025, depends on the balance after the White House retracted Brian Quintz’s nomination.
On Tuesday, Quintenz, former commissioner and policy director for Andreesen Horowitz’s crypto division, confirmed that he had withdrawn his appointment as CFTC chair more than seven months after the White House was officially announced. The withdrawal comes after reports suggesting that both Cameron, both donors and supporters of US President Donald Trump, and President Donald Trump, co-founder of Tyler Winclevos, were pushing the White House to rethink Kintens.
Even amid reports of delays in consideration in the US Senate and Winklevosse’s opposition, many advocacy groups in the crypto and blockchain industry continued to push for Trump to lead the CFTC to stick with QUNTENZ.
https://www.youtube.com/watch?v=sumyysrjvzm
Representatives from the Crypto Innovation Council, Blockchain Association, Decentralized Research Center, DEFI Education Fund, Digital Chamber, Satoshi Action Fund and Solana Policy Institute said in August that Quintenz is “exceptionally appropriate” to lead the agency.
“We’re disappointed [Quintenz] Cody Carbone, CEO of Digital Chamber, told CointeLegraph:
Among the candidates to replace Quintenz was Michael Selig, the chief advisor to the Securities and Exchange Commission (SEC) Crypto Task Force. Counselor Tyler Williams, US Treasury Secretary Scott Bescent. Jill Somers, a financial services consultant and former CFTC commissioner. National Credit Union Management Committee Chairman Kyle Hauptman and Milbank partner Josh Sterling.
Cointelegraph contacted Gemini for comments but did not receive a response at the time of publication.
Related: US regulators will move to dismiss rumors of the SEC-CFTC merger and dispel the code.
The CFTC faces a shortage of leaders and an imminent departure
Since September 3rd, after Commissioner Christine Johnson’s departure, CFTC Chairman Caroline Fam has been standing as the sole remaining head of the agency. Fam said in May that she had planned to move to the private sector after the Senate confirmed Quintenz. That is to say, anyone who Trump chose as an alternative would likely have a major impact on his product and crypto policy.
Another key financial regulator, the US Securities and Exchange Commission (SEC), is also short. Regulators have at least one empty seat on a panel of five commissioners after Jaime Lizaraga left in January.
As of Wednesday, Trump had not yet submitted his name to fill in the seats for Democratic commissioners. The US government was closed late Tuesday night after Republican and Democrat lawmakers failed to reach a funding bill agreement.
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