White House Withdraws Pro-Crypto Brian Quintenz's Name From CFTC Chair Nomination

The White House has officially withdrawn Brian Quintenz's nomination to chair the Commodity Futures Trading Commission (CFTC) following a month-long dispute regarding his suitability for the role. Former CFTC commissioner Quintenz, a proponent of the cryptocurrency industry, faced opposition from significant figures like Tyler and Cameron Winklevoss. Despite his advocacy for crypto, the Winklevoss twins questioned his qualifications, particularly regarding his views on developers and his association with prediction marketplace Kalshi. Quintenz indicated he believed the opposition stemmed from his unwillingness to publicly declare a position on enforcement actions against Gemini, a cryptocurrency exchange. While lobbying efforts were made in support of his nomination, the White House opted to postpone Senate votes several times before ultimately withdrawing Quintenz's name. Currently, the CFTC is led by Acting Chairman Caroline Pham as the administration seeks new candidates for the permanent chair position amidst discussions in Congress regarding the agency's role in regulating crypto spot markets.

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