The White House withdrew the nomination of the former Commissioner of Trade from Brian Quintenz Basic Futures to direct the agency on Tuesday night, limiting a one -month fight over the election of the president of the United States, Donald Trump for the president of the agency.
Trump took advantage of Quintenz shortly after taking up the position. Quintenz joined the chief of world policy of Andresseen Horowitz’s risk firm, and has been an advisor to companies such as the Kalshi prediction market since he left the CFTC after his mandate as commissioner.
In a statement to Coindesk, Quintenz said: “Being nominated to preside over the CFTC and go through the confirmation process was the honor of my life. I am grateful to the president for that opportunity and the Senate Agriculture Committee for his consideration. I I. [am] I hope to return to my private sector efforts during this exciting moment for innovation in our country. “
Political and PunchBowl News previously reported that the White House had withdrawn the Quintenz nomination.
Quintenz has made statements in favor of the cryptographic industry since its first mandate as a commissioner, including the fleet of the idea of ​​a self -regulating organization for the industry similar to the regulatory authority of the Financial Industry (Fine) of the Securities Markets. Despite this, Crypto Exchange Gemini Tyler and Cameron Winklevos co -founders, who support Trump, opposed their nomination at the end of July, and Tyler told Coindesk that he did not believe that Quintenz’s opinions about the developers and his work with Kalshi would describe him for the role.
However, Quintenz published messages he had exchanged with the Winklevos brothers earlier this month, which suggests that they really opposed their nomination because it did not commit to a public vision on a CFTC application action against Gemini. In his messages, Quintenz said it would be better for a “fully confirmed chair” to review the actions of the CFTC.
The organizations and companies of the cryptographic lobbyists wrote a public letter that supports their nomination in an attempt at the end of August to re -route their nomination.
Even so, the White House asked the Senate Agriculture Committee to postpone a vote on the Quintenz nomination several times in July. Last week, Semafor informed that he had begun to examine new candidates to direct the agency, which is currently directed by the interim president Caroline Pham. All the other commissioners of the agency at the beginning of 2025 have been since then, and Pham has also indicated their intention to leave at some point, he said before.
The potential lack of a permanent president of the CFTC occurs when Congress considers legislation that would give the agency a more prominent role in the regulation of cryptography markets, although it is likely that the legislative process be delayed by a pending closure of the government.
Update (September 30, 2025, 23:48 UTC): He adds an additional context, clarifies that Quintenz joined A16z after his mandate as a CFTC commissioner.
