Cryptocurrency sphere and Tyler Winklevoss stirred due to the unveiling of a troubling email from Quintenz
In the heart of New York City, the nomination of Brian Quintenz to become the Chairman of the Commodity Futures Trading Commission (CFTC) under President Trump has faced multiple delays. This story is part of NYNext, an insider insight into the innovations, moonshots, and political chess moves that matter to NYC's power players.
The delays, according to various sources, have been due to White House requests to postpone committee votes and other logistical issues. However, no direct evidence suggests that these delays stem from conflicts of interest or ideological disagreements with Trump's deregulation policies.
Tyler Winklevoss, co-founder of Gemini, a significant player in the crypto industry, has expressed concerns about Quintenz's nomination. Winklevoss believes that Quintenz's ethical conflicts and perceived lack of alignment with Trump's deregulation agenda are cause for concern. He also expressed his alarm about Quintenz's desire to expand the CFTC's budget, staff, and regulations, which he sees as contrary to the President's agenda.
Winklevoss is not alone in his concerns. Another source close to the White House has expressed similar reservations about Quintenz, citing his ties to big banks and crypto as potential conflicts of interest. A source in the crypto industry also believes that Quintenz's Democratic agenda disqualifies him for the position.
Quintenz, during his hearings, did express a desire to expand the CFTC's budget and regulations. However, his visits to Winklevoss's office, although unannounced, have not been met with a warm reception. Quintenz's attempts to obtain information related to betting markets overseen by the CFTC, as revealed in emails, have further fueled these concerns.
Despite the White House's public support for Quintenz, expressing his role in advancing Trump’s agenda to make America a leading crypto hub, there is a concern that Quintenz may lack the votes to advance his nomination to the Senate. The Senate Agriculture Committee, which is responsible for the vote, has been cautious, given the potential for ethical issues that could fuel Democratic campaign ads in the next midterm.
Quintenz remains on the board of Kalshi, a betting company regulated by the CFTC, which adds to the ethical concerns. Despite multiple requests for comment, Quintenz has not responded. Winklevoss, a staunch supporter of President Trump, has even gone so far as to tell Trump about his concerns regarding Quintenz's nomination.
The CFTC, operating with reduced leadership, is under pressure for a swift confirmation. However, the recent controversies and the Senate recess have made the timeline uncertain. As the political chess game continues, the future of Quintenz's nomination remains unclear.
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- The delays in Brian Quintenz's nomination process for the CFTC chair position have sparked debates within the finance and business sectors, with concerns raised about potential conflicts of interest among politics, general news, and Quintenz's deregulation agenda.
- The ongoing discussion about Quintenz's nomination, in light of his ties to big banks, crypto, and his desire to expand the CFTC's budget and regulations, has become a hot topic for discussions in the realm of business, politics, and especially general news.
