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In a surprising move, the White House has withdrawn Brian Quintenz’s nomination to serve as board member and chairman of the Commodity Futures Trading Commission (CFTC). The agency, which oversees derivatives and cryptocurrency markets worth over $4 trillion, now finds itself at the center of a heated political battle over its future leadership.

The End of a Promising Candidacy
Quintenz, a former CFTC commissioner and respected policy expert with experience at a16z crypto and prediction market startup Kalshi, called the nomination “the honor of my life.” In a statement, he expressed gratitude to the president and the Senate Agriculture Committee but said he looks forward to returning to the private sector during what he described as “an exciting time for innovation.”
His withdrawal marks the close of a dramatic series of events. Just months ago, his confirmation appeared almost guaranteed. The tide turned when he faced political pushback fueled by lobbying from crypto billionaires, led by the Winklevoss twins. During a July call with President Trump, they reportedly argued that Quintenz was out of sync with the president’s agenda.

Delays and Political Pressure
Shortly after the call, the White House asked the Senate Agriculture Committee to postpone Quintenz’s confirmation hearing. Quintenz responded unusually openly, publishing screenshots of private messages with Tyler Winklevoss, claiming the president had been misled by the twins. Despite his efforts, support eroded, and his nomination has now been formally withdrawn.

CFTC – A Crucial Agency for Crypto Oversight
The CFTC, structured as a five-member bipartisan commission, plays a pivotal role in regulating derivatives, swaps, and digital assets. After a wave of resignations, only acting chair Caroline Pham remains, originally appointed under former President Joe Biden. The agency’s role is increasingly significant as Congress debates legislation to expand CFTC’s oversight of cryptocurrencies.
Meanwhile, the SEC – the other key U.S. market regulator – has enjoyed stable leadership since April under Chairman Paul Atkins. The leadership vacuum at CFTC, however, has become a battleground for influence between Wall Street and the crypto industry.

New Candidates Step Into the Spotlight
With Quintenz out of the race, several new contenders have emerged. Discussions have intensified in recent weeks, and according to sources, the following names are under serious consideration:
Michael Selig, crypto policy attorney at the SEC and former partner at Willkie Farr & GallagherTyler Williams, Treasury advisor on digital assets, previously with Galaxy DigitalJosh Sterling, former CFTC official and now partner at law firm MilbankJill Sommers, former CFTC commissioner with deep financial sector expertise
The Battle Over Crypto Regulation Heats Up
Whether the next CFTC chair turns the agency into a crypto ally or a tough regulator is the question now reverberating across Washington and Wall Street alike. One thing is clear – the decision will directly shape the future of digital assets in the U.S. and the global crypto economy.

#CFTC , #crypto , #blockchain , #whitehouse , #bitcoin

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