According to Cointelegraph, former Commodity Futures Trading Commission (CFTC) Commissioner Brian Quintenz has been nominated by President Trump to be the chairman of the CFTC, with the nomination submitted to the Senate Agriculture Committee. According to the schedule of the U.S. Senate Committee on Agriculture, Nutrition, and Forestry, Quintenz will attend a hearing on June 10. With the departures of Summer Mersinger and Christy Goldsmith Romero at the end of May, only two Senate-confirmed members remain among the five seats on the CFTC. Quintenz's confirmation could lead to a complete overhaul of the CFTC leadership. Former Chairman Rostin Behnam left in February, and current Acting Chairman Caroline Pham and Commissioner Kristin Johnson also plan to leave following Quintenz's nomination. Quintenz disclosed positions in cryptocurrency and market companies valued at approximately $3.4 million prior to the confirmation hearing, which could present a conflict of interest while he leads the financial regulatory agency. During his latest term, Trump only nominated Quintenz as a CFTC commissioner; if Pham and Johnson leave, Trump will have the opportunity to restructure the CFTC. CFTC rules require no more than three commissioners to come from the same political party, and Quintenz is a Republican, meaning Trump may nominate two Republicans and two Democrats. Pham has indicated plans to leave the CFTC for the private sector, while at least one commissioner has explicitly stated intentions to be more actively involved in cryptocurrency policy advocacy. Mersinger became the CEO of the Blockchain Association on June 2.