The nomination process of the CFTC chairman is confronted with delays, because the White House is said to weigh new candidates, with the confirmation of Trump -nominated Brian Quintenz stuck in the Senate.
Summary
- The White House is considering new candidates for CFTC chairman, since the stuck nomination of Brian Qutenz remains unsolved.
- Reports claim that potential chairman -candidates include the chief advisor of the Michael Selig, and Tyler Williams, a counselor by Finance Minister Scott Bessent
- Quintenz recently claimed that founder of Gemini, Tyler Winklevoss, tried to influence his potential role in the CFTC. The dispute comes from the long -term tensions of the stock market with the committee.
The White House is said to investigate new candidates to lead the Commodity Futures Trading Commission after weeks of delays in confirming the nominated Brian Qutenz of President Trump. According to a recent Bloomberg reportQuintenz, a former CFTC commissioner who was tapped for the chairman’s role earlier this year, must continue in the process.
Under the names that are being considered, Michael Selig, chief advisor of the Crypto Task Force of the SEC and a former asset management lawyer, and Tyler Williams, are a counselor by Minister of Treasury Scott Bessent about digital-asset policy that previously worked at Galaxy Digital.
Michael Selig, nor Tyler Williams has commented on the discussions and the CFTC continues to operate under acting chairman Caroline Pham, with various commissioner seats still not.
Although the White House has not officially indicated that Brian Qutenz is declining, the Bloomberg report strengthens its recent comments that the nomination process has stalled and his confirmation remains uncertain.
Qutenz’s accusations against Gemini founders about CFTC -Nomination
Earlier this month, Brian Quintenz went to X to publish screenshots of private messages, he says that he was exchanged at the end of July with Gemini-MEDE founder Tyler Winklevoss. Quintenz claimed that those messages showed that Winkervoss encouraged him to intervene in a Gemini complaint against the CFTC and reassure the exchange about how such things would be treated if he were chairman.
Quintenz claimed that after he refused to give the guarantees, Winkervoss tried to delay or stop his CFTC nomination. He said that the Outreach may have led to President Trump to pause the confirmation process and to write that the president is ‘perhaps misled’ by the Gemini founders.
The dispute returns to the long -term collision of Gemini with the CFTC, including an enforcement action from 2022 that ended earlier this year in a $ 5 million settlement. After the settlement, Gemini submitted an inspector-general complaint that accused the agency of ‘Lawfare trophy hunt’, which it said that it reflected the politically motivated enforcement.
The SMS messages released by Quintenz seem to show Winklevoss for signals that a future chair would tackle it. The Winklevoss Twins still have to respond publicly to the claims of the CFTC nominated, but the dispute has added friction to the already difficult confirmation process.
