Bitcoin Donors May Be Influencing Trump’s CFTC Pick as Quintenz’s Nomination Is Reconsidered

At least three other candidates may be in the running to chair the CFTC after reports indicated the Trump administration was reconsidering its first pick, Brian Quintenz.

Former CFTC commissioner and Trump’s February nominee, Brian Quintenz, may not reach a Senate floor vote after the White House reportedly began vetting alternatives.

Press reporting identified Josh Sterling, a 2019–2021 CFTC official and current Milbank partner, as one possibility. Sterling served as a director in the agency’s market participants division and did not require a Senate vote for that prior role.

Other names mentioned as potential nominees include Mike Selig, chief counsel to the SEC crypto task force, and Tyler Williams, a Treasury counselor and former policy head at Galaxy Digital.

Quintenz appeared before the Senate Agriculture Committee in June and was expected to proceed to a vote in July. The White House asked the committee to delay consideration without public explanation.

Related: CFTC initiative to allow stablecoins as collateral in derivatives markets

Since Sept. 3, after Commissioner Kristin Johnson departed, the CFTC has been led solely by acting chair Caroline Pham. Industry voices warn that leaving a major regulator short-staffed could weaken oversight for markets that act as important shock absorbers for financial risk.

Josh Sterling, in a June Bloomberg Law coauthored article, argued that understaffing risks neglecting markets crucial to routine commerce: “Leaving a key regulator undermanned risks letting financial markets critical to the US economy fall into neglect. Those markets are crucial to routine commerce, and they have proven time and again […] to be an important shock absorber for financial risk. It makes absolutely no sense to leave their oversight in doubt.”

In a Sept. 12 letter to CFTC and Treasury officials, Sterling criticized the agency under Pham for what he described as “abuse, mismanagement, and waste” on behalf of a Milbank client.

Are the Winklevosses influencing Trump’s CFTC pick?

Cameron and Tyler Winklevoss, the Gemini co-founders, have publicly supported President Trump’s crypto agenda and contributed materially to his campaign and related PACs. Their donations and presence at the July signing of the administration’s stablecoin bill, the GENIUS Act, have led to reporting that they lobbied for a different CFTC nominee.

Quintenz released social media text exchanges with the Winklevoss brothers suggesting Gemini sought assurances about future CFTC enforcement as part of any confirmation. A coalition of cryptocurrency and blockchain associations had also written to the White House urging Quintenz’s confirmation, but his path to a final vote remained unclear.

Who else is being considered to lead the CFTC?

Beyond Sterling, two other contenders reported to be under consideration are Mike Selig and Tyler Williams. Selig advises the SEC crypto task force and has ties to SEC leadership. Williams has Treasury experience and previously led policy at a major digital-asset firm.

All names were reported in press coverage; these mentions are presented here as factual summaries of those reports and as context for the stated delay in Quintenz’s confirmation process.

Frequently Asked Questions

Why was Brian Quintenz’s CFTC nomination delayed?

The White House requested the Senate Agriculture Committee delay consideration of Quintenz’s nomination in late July without publicly stating a reason, and subsequent reporting indicates alternate candidates were being vetted.

How could a delayed CFTC chair vote affect markets?

An understaffed or interim-led CFTC can slow rulemaking and enforcement decisions, potentially leaving derivatives and other markets without full regulatory oversight during periods of volatility.

What role did the Winklevoss twins play in the nomination process?

Reporting and released messages indicate the Winklevosses communicated with Quintenz and attended White House events tied to crypto policy; they have also donated Bitcoin to pro-administration efforts, which has prompted scrutiny over their influence.

Key Takeaways

• Nomination status: Brian Quintenz’s Senate vote was postponed after a White House request.
• Alternate candidates: Josh Sterling, Mike Selig and Tyler Williams were reportedly vetted as replacements.
• Regulatory risk: The CFTC’s acting-only leadership raises concerns about timely oversight of derivatives and crypto markets.

Conclusion

Quintenz’s stalled nomination for CFTC chair and the reported vetting of alternatives reflect high-stakes political and industry dynamics around crypto regulation. COINOTAG will continue tracking official filings and committee calendars as the situation develops; readers should monitor statements from the White House and the Senate Agriculture Committee for formal updates.