White House drops Brian Quintenz from CFTC chair consideration
The White House has withdrawn Brian Quintenz from consideration to lead the Commodity Futures Trading Commission, according to Politico.
Quintenz, currently policy lead at Andreessen Horowitz (a16z), was nominated earlier this year but his confirmation faced repeated delays.
Concerns raised by Gemini founders Tyler and Cameron Winklevoss over potential conflicts of interest, along with scrutiny over a16z’s lobbying efforts, reportedly played a role in the decision.
A source told The Block that Quintenz was “out” following mounting opposition linked to industry influence concerns.
Quintenz previously served as a commissioner at the CFTC under Donald Trump’s first administration, a move once welcomed by the crypto industry.
The CFTC is set to play a key role in shaping U.S. crypto regulation, with Congress currently drafting legislation to expand its authority.
"Being nominated to chair the CFTC and going through the confirmation process was the honor of my life," Quintenz said. "I am grateful to the President for that opportunity and to the Senate Agriculture Committee for its consideration. I am looking forward to returning to my private sector endeavors during this exciting time for innovation in our country."
His nomination had stalled twice in the Senate Agriculture Committee, with votes canceled at the request of the White House.
The White House has not issued a comment regarding the withdrawal.
Mike Selig, chief counsel to the SEC’s crypto task force and senior advisor to the chair, has emerged as the leading contender for the role, according to a source.
Other names under consideration include Milbank LLP partner Josh Sterling, Baker & Hostetler LLP counsel Isabelle Corbette Sterling, and former CFTC commissioner Jill Sommers.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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