The White House is rethinking its pick for the next chair of the Commodity Futures Trading Commission (CFTC), with President Trump’s nominee Brian Quintenz still stuck in Senate limbo. According to a Bloomberg report, officials are now weighing alternative candidates, adding another twist to an already drawn-out confirmation process.
Potential New Faces for the Role
Among the names being floated are:
- Michael Selig, chief counsel to the SEC’s crypto task force and a former attorney in asset management.
- Tyler Williams, counselor to Treasury Secretary Scott Bessent on digital-asset policy and a former Galaxy Digital executive.
Neither Selig nor Williams has commented on the speculation, and for now, Acting Chair Caroline Pham continues to lead the CFTC, which is also dealing with multiple unfilled commissioner seats.
Quintenz’s Nomination Hits a Wall
Quintenz, a former CFTC commissioner nominated by Trump earlier this year, has yet to advance in the Senate. He himself recently admitted that the process has stalled, raising doubts about whether he’ll ultimately secure the role.
Adding to the uncertainty are Quintenz’s explosive allegations against Gemini co-founder Tyler Winklevoss. Earlier this month, Quintenz posted screenshots of messages he claims show Winklevoss urging him to intervene in Gemini’s disputes with the CFTC if he became chair.
Quintenz says he refused to give any assurances, and afterward, Winklevoss allegedly worked to stall his nomination. He even suggested that President Trump “might have been misled” about the situation, leading to the pause in his confirmation.
The Gemini Connection
Gemini has a long history of clashes with the CFTC. In 2022, the agency brought an enforcement action against the exchange, which was settled for $5 million earlier this year. Gemini later filed an inspector-general complaint accusing the CFTC of “lawfare trophy hunting,” calling the enforcement politically motivated.
The alleged messages released by Quintenz show Winklevoss pressing him for signals that a future chair would address those complaints. The Winklevoss twins have not publicly responded, but the dispute has only added more friction to an already tense process.
What’s Next
For now, the CFTC remains in a holding pattern. The White House hasn’t formally backed away from Quintenz, but the search for other candidates signals that his path to confirmation may be narrowing. With major regulatory debates on digital assets still ahead, who ends up leading the CFTC could shape crypto policy for years to come.
