Brian Quintenz, who leads coverage for Andreessen Horowitz’s crypto staff, introduced on Wednesday that he’s being tapped to move the Commodity Futures Buying and selling Fee (CFTC), based on his X post. And lots of within the VC trade look like thrilled about it.
The CFTC regulates the buying and selling of commodity futures, choices, and swaps, in any other case referred to as derivatives. It is usually concerned within the enforcement of rules impacting some crypto.
He beforehand served as a commissioner for the CFTC through the first Trump administration, based on his a16z biography and, previous to that, he based the funding agency Saeculum Capital Administration.
He joined a16z in 2021 as an advisory companion earlier than turning into head of coverage for its crypto arm.
His appointment obtained help from some large names within the trade. On X, many working for the a16z crypto arm despatched their congratulations.
Brian Armstrong, co-founder and CEO of Coinbase, who reportedly met with President Trump to debate employees appointments, posted an X welcoming Quintenz to the CFTC.
Bobby Franklin, president of the Nationwide Enterprise Capital Affiliation (NVCA), a lobbying group, launched an announcement in help of Quintenz’s nomination, saying his authorities and enterprise expertise will “present precious views as he helms a prime regulatory physique for the crypto market.”
His pending appointment comes at a time when the CFTC has been mired in controversy. The appearing chair, Caroline Pham, just lately eliminated the top of HR, and the agency released a statement that made allegations in opposition to this individual. This after Bloomberg reported that there have been inside investigations happening on the company.
Quintenz is the most recent affiliate of a16z to seek out his method to the White Home. The agency has develop into so concerned with the Trump administration that co-founder Marc Andreessen, an ardent Trump supporter, is alleged to be quietly helping with government staff recruitment.
Elsewhere, Sriram Krishnan, former basic companion at a16z, is now a White Home senior coverage advisor; Scott Kupor, one of many agency’s managing companions, was tapped to lead the Workplace of Personnel Administration, and Jamie Sullivan, one other investor on the agency, is rumored to be advising DOGE.
