The White House withdrew the appointment of the former commissioner of freight shops, Brian Quintenz, to manage the agency on Tuesday evening, capping a one -month struggle against the choice of American president Donald Trump for the president of the agency.
Trump called Quintenz shortly after the office retirement. Quintenz joined the head of the policy of the venture capital company Andresseen Horowitz, and has been an advisor for companies such as the Marketplace Kalshi prediction since which left the CFTC following its mandate as a commissioner.
In a press release in 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 this opportunity and the Senate Committee for Agriculture for his consideration. I. [am] Looking forward to returning to my efforts in the private sector during this exciting period for innovation in our country. “”
Politico and Punchbowl News reported earlier than the White House had withdrawn the appointment of Quintenz.
Quintenz has made declarations in favor of the cryptography industry since his first mandate as a commissioner, in particular by floating the idea of ​​a self -regulation organization for the industry similar to the Regulatory Authority for the Financial Securities Markets (Finra). Despite this, the co -founders of Crypto Exchange Gemini, Tyler and Cameron Winklevoss – who support Trump – opposed his appointment at the end of July, Tyler saying to Coindesk that he did not believe that Quintenz’s opinions on developers and his work with Kalshi qualified him for the role.
However, Quintenz published messages he had exchanged with the Winklevoss brothers earlier this month, suggesting that they really opposed his appointment because he would not engage in a public point of view on an action in charge of the CFTC against Gemini. In his messages, Quintenz said he would be better for a “fully confirmed chair” to examine the actions of the CFTC.
The organizations and companies of crypto lobbyists have written a public letter supporting its appointment in an offer at the end of August to put its appointment on the right track.
However, the White House asked the Senatorial Agriculture Committee to postpone a vote on the appointment of Quintenz a few times in July. Last week, Semafor reported that he had started to check the new candidates to manage the agency, which is currently led by the acting president, Caroline Pham. All the other commissioners of the agency at the beginning of 2025 have since left, and Pham indicated its intention to leave at one point, previously reported Coindesk.
The potential absence of the CFTC of a permanent president intervenes while the Congress considers legislation which would give the agency a more important role in the regulations of the markets of the cryptographic points, although the legislative process is likely to be delayed by a closure of the current government.
Update (September 30, 2025, 23:48 UTC): Add an additional context, clarifies that Quintenz joined A16z after its term of CFTC commissioner.
