Brian Quintenz announced yesterday that he has been nominated to become the permanent Chair of the Commodity Futures Trading Commission (CFTC).
The American businessman, who has strong interests in cryptocurrency markets, stated on X yesterday that US President Donald Trump has nominated him for the position.
This will mean that Caroline Pham, who was named Acting CFTC Chair shortly after Trump’s inauguration last month, will step down from her role, though it is likely she will retain a position at the CFTC as a commissioner or department head.
Quintenz himself is a veteran of the CFTC, having worked as a Commissioner between 2017 and 2021 under the first Trump administration and for a brief period under Joe Biden’s administration.
“It is my great honor to be nominated by President Donald Trump as the next Chairman of the Commodity Futures Trading Commission, where I had served as a Commissioner in his last administration,” Quintenz’ social media post read.
“The CFTC plays a critical role in maintaining robust hedging and price discovery markets that are the envy of the globe. The agency is also well poised to ensure the USA leads the world in blockchain technology and innovation. I look forward to working with President Trump’s incredible financial regulatory team.”
Crypto and contracts – a new direction for the CFTC?
Quintenz’ background in financial services and fintech is of particular interest now that he is seemingly set to take on the chief role at the CFTC. He is a notable cryptocurrency stakeholder, currently filling the role of Head of Crypto Policy at California-based venture capital firm Andreessen Horowitz.
The CFTC is going to take on a lot of responsibility for crypto under Trump’s second administration, if his pre-election comments and early post-inaugration actions are anything to go by at least.
Trump has tasked a working group with formulating a regulatory framework for crypto in the US, with a specific focus on promoting stablecoins, protecting crypto ownership, and clamping down on any prospect of a CBDC. The CFTC will have a key role in enforcing such a framework, as and when it is developed and introduced.
Other key crypto stakeholders have welcomed Quintenz’ announcement. Ripple CEO, Brad Garlinghouse, said on X: “The CFTC plays a vital role in making sure the US has the most robust capital markets in the world — congrats Brian Quintenz on your nomination for CFTC Chair!”
Meanwhile, another interesting fact to note is that Quintenz sits on the board of Kalshi, an American financial services firm notable as the leading provider of sports and political event contracts.
These have become an area of contention for the CFTC of late, with the regulator having engaged in extensive discussions with Kalshi over the validity of event contracts and whether or not these products clash with state gaming laws.
Other providers of events contracts have been told to remove the products – both Crypto.com and Robinhood were told to do so shortly after product launch, within 24 hours in the case of the latter.
Quintenz’s appointment still needs to be ratified by the Senate, though the Republican-controlled upper house of Congress is likely to vote in favour of President Trump’s nominations. It will be interesting to see how the CFTC’s attitudes towards crypto and event contracts play out under his tenure.
Meanwhile, the regulator has also commented on the departure of Chairman Rostin Behnam, who first became a Commissioner under Trump back in 2017 and later became Chair under Biden in 2021.
“We would like to recognise former Chairman Rostin Behnam for his years of public service to the American people and his lengthy tenure at the CFTC,” read a statement signed by Acting Chair Pham and Commissioners Kristin N. Johnson, Christy Goldsmith Romero and Summer K. Mersinge.
“He departed the CFTC on February 7, after having served as a Commissioner for nearly eight years, including as the agency’s 15th Chairman from 2021 to 2025.
“Since joining the CFTC in 2017, former Chairman Behnam has been a steadfast supporter and staunch advocate for the CFTC’s mission, our people, and the markets we serve. He led the agency through a time of rapid changes to the derivatives markets.
“We wish former Chairman Behnam and his team the very best in their future endeavors.”
