White House Considers New CFTC Candidates Amid Quintenz-Gemini Conflict
The process to nominate a chair for the CFTC is currently facing delays as the White House is reportedly considering new candidates, with the Senate still stalled on the confirmation of Trump nominee Brian Quintenz.
Summary
- The White House is evaluating new candidates for the CFTC chair position as Brian Quintenz’s nomination remains unresolved.
- Potential candidates mentioned include Michael Selig, chief counsel for the SEC, and Tyler Williams, a counselor to Treasury Secretary Scott Bessent.
- Quintenz recently accused Gemini founder Tyler Winklevoss of attempting to influence his potential position at the CFTC, amid ongoing tensions between the exchange and the commission.
The White House is reportedly looking into alternative candidates to head the Commodity Futures Trading Commission, following weeks of delays regarding the confirmation of President Trump’s nominee, Brian Quintenz. A recent Bloomberg report highlights that Quintenz, a former CFTC commissioner nominated for the chair position earlier this year, has not progressed in the confirmation process.
Among those under consideration are Michael Selig, chief counsel for the SEC’s crypto task force, and Tyler Williams, a digital-asset policy advisor to Treasury Secretary Scott Bessent, who has prior experience at Galaxy Digital.
Neither Michael Selig nor Tyler Williams has publicly commented on the nomination discussions, and the CFTC continues to function under Acting Chair Caroline Pham, as several commissioner positions remain unfilled.
While there has been no official indication from the White House that it is distancing itself from Brian Quintenz, the Bloomberg report reinforces his earlier statements about the stalled nomination process and the uncertainty of his confirmation.
Quintenz’s Allegations Against Gemini Founders Regarding CFTC Nomination
Earlier this month, Brian Quintenz shared screenshots on X, claiming they were messages exchanged with Gemini co-founder Tyler Winklevoss from late July. Quintenz alleged that these messages show Winklevoss urging him to intervene in a complaint that Gemini had filed against the CFTC and to provide reassurances about the handling of such matters if he were to become Chair.
After Quintenz declined to offer any assurances, he claimed Winklevoss attempted to slow down or halt his CFTC nomination, suggesting that this outreach may have led President Trump to pause the confirmation process, indicating that the president “might have been misled” by the Gemini founders.
This dispute traces back to Gemini’s ongoing issues with the CFTC, which included a 2022 enforcement action that culminated in a $5 million settlement earlier this year. Following the settlement, Gemini lodged an inspector-general complaint, accusing the agency of “lawfare trophy hunting” reflective of politically motivated enforcement.
The text messages released by Quintenz appear to support his claims that Winklevoss sought confirmation that future leadership would address these issues. The Winklevoss twins have not yet publicly responded to these allegations, but the situation has complicated an already challenging confirmation process.