TLDR
- Brian Quintenz is still on Kalshi’s board while nominated to lead the CFTC.
- The Senate Agriculture Committee has delayed voting on his confirmation.
- Emails suggest Quintenz’s camp sought non-public data from the CFTC.
- Winklevoss says Quintenz’s policy stance contradicts Trump’s crypto goals.
Tyler Winklevoss has voiced opposition to Brian Quintenz, recently nominated by President Donald Trump to lead the Commodity Futures Trading Commission (CFTC). Winklevoss says Quintenz’s views and affiliations conflict with the goals of the crypto community and Trump’s stated agenda.
The nomination, initially supported by several industry figures, is now being reassessed by lawmakers. A vote planned by the Senate Agriculture Committee was postponed, and there are questions about whether Quintenz is the right candidate to oversee the CFTC at this time.
Concerns Over Ties to Kalshi and Andreessen Horowitz
Brian Quintenz previously worked at Andreessen Horowitz (a16z) and currently sits on the board of Kalshi, a prediction markets platform. Critics argue that this connection could bias future decisions at the CFTC, particularly regarding prediction markets competing with Kalshi.
Recent reports allege that someone from Quintenz’s team sought non-public information from the CFTC about designated contract markets. These include competitors to Kalshi, such as QCX and Railbird. Author Dustin Gouker obtained the information through a Freedom of Information Act request. He questioned whether the request was appropriate given Quintenz’s board position.
Quintenz has said he will resign from Kalshi’s board if confirmed, but that has not stopped objections from continuing to build.
Industry Pushback on Policy and Crypto Regulation
Some in the digital asset space say Quintenz’s regulatory views do not support decentralization or Trump’s small-government approach. One issue raised is his position on smart contracts. Critics claim he supports holding developers liable for how their code is used, a controversial stance as seen in the Roman Storm case.
Another issue is his support for expanding the CFTC’s budget. Some say this conflicts with Trump’s goals to reduce federal agency size. “His policy is not in line with the stated goals and policy of President Trump,” Tyler Winklevoss said in an interview.
Quintenz also reportedly favors central bank digital currencies (CBDCs), which some in the crypto space view as contrary to the ethos of decentralized finance.
Delayed Confirmation and Limited Alternatives
The Senate Agriculture Committee was expected to vote on Quintenz’s confirmation earlier this week, but the vote was canceled. The exact reason is unclear, although reports suggest internal concerns and a lack of full support may have been factors.
While many crypto advocates now oppose the nomination, no alternative candidate has been formally suggested. If the nomination is blocked, options may include keeping Acting Chair Caroline Pham, nominating someone like SEC Chair Paul Atkins, or selecting a new nominee altogether.
Tyler Winklevoss emphasized that the administration should not compromise on leadership at the CFTC. “We didn’t fight this hard to get the most pro-crypto administration into office to then settle here,” he said.
Uncertain Path Ahead for the CFTC Leadership
The future of the CFTC’s leadership remains uncertain as stakeholders wait for the White House and Senate to make their next moves. Quintenz has not issued a public response to the criticism or to requests for comment.
The crypto industry continues to monitor the situation closely, as it may affect the direction of regulatory policy and upcoming legislation, including the Clarity Act.
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