White House Scrambles for New Crypto CFTC Pick After Winklevoss
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Winklevoss Twins
Quintenz’s climb to the CFTC helm has turned into a crypto power struggle, as Winklevoss twins leverage political sway to stall his nomination while the White House quietly vets pro-crypto regulators.
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Hassan Shittu
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Hassan Shittu
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Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in...
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12 hours ago
The White House is searching for fresh candidates to chair the Commodity Futures Trading Commission (CFTC) after the nomination of Brian Quintenz stalled amid mounting political pushback and controversy involving the Winklevoss twins.
Quintenz, a former CFTC commissioner and head of policy at a16z crypto, was tapped by President Donald Trump in February to lead the derivatives regulator.
His nomination was initially supported by a coalition of crypto industry groups, who argued he was “exceptionally well-suited” for the role given his experience with digital assets.
But a series of delays in the Senate Agriculture Committee, which oversees the agency, has left his confirmation in limbo.
White House Vets New CFTC Chair Picks Amid Crypto Oversight Debate.
According to Bloomberg report, the White House is now weighing additional names, including officials with experience in crypto regulation and digital asset policy.
Michael Selig, chief counsel to the Securities and Exchange Commission’s crypto task force and a former partner at Willkie Farr & Gallagher, has been floated as a contender.
Tyler Williams, counselor to Treasury Secretary Scott Bessent on digital assets and a former executive at Galaxy Digital, has also been discussed. Neither has commented publicly on the matter.
The search reflects growing urgency as the CFTC prepares for a larger role in digital asset oversight. The agency traditionally regulates derivatives markets, but pending legislation in Congress could expand its authority over spot trading in cryptocurrencies such as Bitcoin and Ether.
The CFTC already oversees trillions of dollars in swaps and futures trading, and its influence in crypto policy has grown under outgoing chair Rostin Behnam.
Behnam, who stepped down in January, presided over the agency during some of its most aggressive actions in crypto enforcement, including the $4.3 billion settlement with Binance.
He consistently argued that the CFTC is best positioned to regulate digital commodities and warned that large portions of the crypto market remain unregulated.
His departure left the agency under Acting Chair Caroline Pham, who had signaled she plans to return to the private sector once a permanent leader is confirmed.
The delay over Quintenz’s nomination escalated after reports surfaced that Gemini co-founders Tyler and Cameron Winklevoss privately urged Trump to reconsider his choice. In June, Politico reported the brothers had raised concerns that Quintenz would not fully back the president’s crypto agenda.
Weeks later, the White House requested the Senate Agriculture Committee to pause a scheduled vote. Quintenz later suggested on social media that the president “might have been misled” by the twins, posting screenshots of private exchanges he claimed to have had with Tyler Winklevoss before his hearing was delayed.
The situation has been complicated...
https://cryptonews.com/news/white-house-scrambles-for-new-crypto-cftc-pick-after-winklevoss-backlash/
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