Trump nominated CFTC chairman candidate Brian Quintenz reveals $3.4 million in assets and its relationship with the cryptocurrency industry

According to Bloomberg, Brian Quintenz, Trump's nominee for the position of Chairman of the Commodity Futures Trading Commission (CFTC), disclosed that he holds at least $3.4 million in assets and has multiple connections to the cryptocurrency industry. According to the documents, Quintenz is currently the global head of encryption policy at venture capital firm a16z and a director of predictive market platform Kalshi. If the nomination is approved, he will resign from these positions. Quintenz has promised to recuse himself from regulatory matters related to his former employer, including a16z's funds and Kalshi platform business, for two years if he takes office. The CFTC is currently advancing the development of a regulatory framework for digital assets, which may grant regulatory authority over spot markets such as Bitcoin. The institution has recently been in turmoil due to the collective resignation of four committee members and the revocation of a fraud lawsuit against a trading platform.