The White House is pulling the nomination of Brian Quintenz, whom President Donald Trump nominated as a board member and chairman of the Commodity Futures Trading Commission.
A White House official confirmed the news to the Washington Examiner.
The CFTC handles the U.S. derivatives markets, including option trading, and aims to promote their “integrity, resilience, and vibrancy” through “sound regulation.”
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Politico reported that Quintenz, who ran the CFTC during Trump’s first term and partly into former President Joe Biden’s term, won’t be commissioner again because of opposition from crypto investors.
“Being nominated to chair the CFTC and going through the confirmation process was the honor of my life,” Quintenz said in a message to Politico. “I am grateful to the President for that opportunity and to
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