White House Considers New Candidates for CFTC Chair
The White House is reportedly looking at new candidates for the Commodity Futures Trading Commission (CFTC) chair position. Brian Quintenz, the current Trump nominee, faces a stalled confirmation process in the Senate.
New potential chairs could include Michael Selig, who works with the SEC on cryptocurrency issues, and Tyler Williams, a counselor to Treasury Secretary Scott Bessent. Thier involvement suggests a focus on digital assets within the CFTC leadership. Both have not commented on the speculations so far.
The CFTC continues operations with Acting Chair Caroline Pham as several commissioner roles remain unfilled. Despite no official statement from the White House, reports indicate hesitation over Quintenz’s nomination.
Quintenz recently accused Gemini co-founder Tyler Winklevoss of trying to sway his nomination.Gemini had a tense relationship with the CFTC,including a $5 million settlement in 2022.According to Quintenz, Winklevoss sought assurances on future CFTC actions during private exchanges.
When refused,Winklevoss allegedly pushed to slow down Quintenz’s nomination process. This public dispute adds another layer of complexity to an already challenging confirmation process. Quintenz publicly posted messages to support his claims, waiting for responses from the twins.
