Former US Commodity Futures Trading Commission (CFTC) member and US President Donald Trump’s pick to chair the agency, Brian Quintenz, may not face a vote in the Senate after reports suggested Trump was considering other candidates for the job.
According to a Wednesday Semafor report, the Trump administration was vetting Josh Sterling, a former director at the CFTC’s market participants division, to chair the agency as Quintenz’s nomination reportedly stalled.
Sterling, who worked at the CFTC from 2019 to 2021, was appointed to his position during the first Trump administration and did not face a Senate vote. He is a partner at Milbank, an international law firm.
On Sept. 10, Quintenz provided some evidence to support reports that the Winklevosses were pressing Trump for another CFTC candidate. He released text messages between himself and the two brothers over social media, suggesting that Gemini was looking for certain assurances regarding CFTC enforcement actions should the Senate confirm Quintenz.
Despite a letter to Trump from several cryptocurrency and blockchain associations advocating for Quintenz’s confirmation, his potential role heading the CFTC was uncertain. As of Wednesday, the Senate Agriculture Committee calendar showed no hearing to consider Quintenz’s nomination as CFTC chair.
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