According to Cointelegraph, Brian Quintenz, a former member of the Commodity Futures Trading Commission (CFTC), has been nominated by President Trump as the chairman of the CFTC, and the nomination has been submitted to the Senate Agriculture Committee. According to the schedule of the U.S. Senate Agriculture, Nutrition and Forestry Committee, Quintenz will attend a hearing on June 10. With the departure of Summer Mersinger and Christy Goldsmith Romero at the end of May, there are only two Senate-confirmed members left in the five seats of the CFTC. Quintenz's confirmation may lead to a comprehensive replacement 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 after Quintenz's nomination. Quintenz disclosed a position in a cryptocurrency and market company worth about $3.4 million before the confirmation hearing, which may constitute a conflict of interest in his leadership of the financial regulator. Trump only nominated Quintenz as a CFTC commissioner during his latest term. If Pham and Johnson leave, Trump will have the opportunity to reorganize the CFTC. CFTC rules require no more than three commissioners to be from the same party, and Quintenz is a Republican, meaning Trump could nominate two Republicans and two Democrats. Pham has said he plans to enter the private sector after leaving the CFTC, while at least one commissioner has made it clear that he will be more actively involved in crypto policy advocacy. Mersinger became CEO of the Blockchain Association on June 2.