Trump CFTC Nominee Quintenz Discloses $3.4 Million in Crypto Assets

Brian Quintenz, the nominee for the Commodity Futures Trading Commission (CFTC) by Donald Trump, has disclosed assets totaling $3.4 million, a significant portion of which are linked to cryptocurrencies. This disclosure comes as part of the standard process for nominees to federal positions, where they must reveal their financial holdings to ensure transparency and avoid potential conflicts of interest. Quintenz's financial disclosure includes various crypto-related investments, which he has pledged to divest if confirmed for the position. The CFTC is a key regulatory body overseeing the derivatives markets, including those involving cryptocurrencies, making Quintenz's crypto holdings a point of interest. His commitment to divesting these assets, if confirmed, underscores the importance of maintaining impartiality in regulatory roles.

The disclosure highlights the growing intersection between traditional finance and the burgeoning world of digital assets, as well as the need for regulatory bodies to navigate these complex financial landscapes with integrity and transparency. Quintenz, who served as a CFTC commissioner from 2017 to 2021, is currently the global head of crypto policy at Andreessen Horowitz. He holds interests in three AH Capital Management investment funds and is a board member of the prediction markets platform Kalshi, owning stock and unvested stock options in the firm. Additionally, he owns stock and vested stock options in the finance and lending brokerage Next Level Derivatives.

Quintenz's portfolio directly intersects with two major CFTC policy areas: crypto asset regulation and prediction markets. Kalshi recently settled a major legal battle with the CFTC over election betting, further emphasizing the relevance of his holdings to the regulatory body's priorities. In an agreement letter to the CFTC’s Designated Agency Ethics Official, Quintenz outlined the steps he will take to avoid conflicts of interest if confirmed as CFTC chairman. He stated that he will not participate personally and substantially in any particular matter in which he knows he has a financial interest directly and predictably affected by the matter.

Quintenz also pledged to resign from all positions and divest conflicting assets within 90 days of confirmation. This includes recusing himself from a16z-related matters for two years, recusing from Kalshi matters for one year, and forfeiting unvested stock options at multiple companies. He further committed to complying with standard conflict of interest laws and obtaining ethics briefings, while retaining unpaid trustee positions for two family trusts. Trump nominated Quintenz to head the financial regulator in February, and he is currently awaiting Senate confirmation.

The CFTC has seen an exodus of commissioners recently amid concern over the Trump administration’s crypto embrace, with potentially all four remaining positions being up for grabs this year. On May 21, Democrat Commissioner Kristin Johnson announced that she plans to depart the agency later this year. Meanwhile, Commissioners Summer Mersinger and Christy Goldsmith Romero previously said they would respectively step down on May 30 and May 31.