Trump's nominated CFTC Chairman candidate Brian Quintenz has been revealed to hold cryptocurrency assets worth $3.4 million (approximately 4.658 billion won). Quintenz disclosed this information through a recent ethics report.
Quintenz served as a CFTC Commissioner from 2017 to 2021 and is currently overseeing global cryptocurrency policy at venture capital firm Andreessen Horowitz (a16z). He holds stakes in three a16z investment funds: CNK Fund III, CNK Seed 1 Fund, and CNK IV Fund.
He also serves on the board of Kalshi, a decentralized prediction market platform that resolved legal disputes with CFTC and election betting, and holds stocks and unacquired stock options in Kalshi and financial services loan brokerage company Next Level Derivatives.
On May 21, Quintenz sent a letter to CFTC Ethics Officer John Einsman, promising to resign from a16z upon becoming chairman, sell conflict of interest assets within 90 days, avoid a16z-related matters for two years, and avoid Kalshi-related matters for one year.
This appointment comes as three CFTC commissioners have announced their resignation by mid-2025. Commissioner Christie Goldsmith Romero expressed concern that "having four commissioner positions vacant is not desirable".
Quintenz's appointment is seen as aligned with the Trump administration's approach of promoting cryptocurrency-friendly policies. However, his deep ties with the cryptocurrency industry raise concerns about fairness and regulatory capture.
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