Ah, dear reader! Gather ’round as we unveil the latest spectacle in the grand theater of politics! Our illustrious President, Donald Trump, has chosen a most curious character to chair the Commodity Futures Trading Commission—none other than the dashing Brian Quintenz! With a treasure trove of assets worth a staggering $3.4 million, he has also revealed his many entanglements with the whimsical world of crypto! 🤑
In a most revealing document, released by the esteemed US Office of Government Ethics on the 25th of May, our hero Quintenz has laid bare his connections to various crypto and market firms, which, I daresay, are quite pertinent to the CFTC’s regulatory whims! According to a report from Bloomberg, this man of mystery has assets that would make even the most seasoned merchant blush! 💼
Once a commissioner of the CFTC from 2017 to 2021, Quintenz now dons the hat of the global head of crypto policy at Andreessen Horowitz. But fear not! Should the Senate bestow upon him the honor of CFTC chair, he promises to relinquish this position—how noble! 🎩
Our gallant Quintenz has vested interests in three AH Capital Management investment funds: the CNK Fund III, the CNK Seed 1 Fund, and the CNK IV Fund. He also has capital commitments to related general partners—oh, the intrigue! 🕵️♂️
As a board member of the prediction markets platform Kalshi, he holds stock and unvested stock options in this firm, alongside stock and vested stock options in the finance and lending brokerage, Next Level Derivatives. A veritable web of financial interests, I must say! 🕸️
His portfolio dances directly with two major CFTC policy areas: crypto asset regulation and prediction markets. Just recently, Kalshi emerged victorious from a legal tussle with the CFTC over election betting—what a dramatic turn of events! 🎭
In a letter to John Einstman, the CFTC’s Designated Agency Ethics Official, dated May 21, Quintenz has pledged to avoid conflicts of interest. “I shall not partake personally and substantially in any matter where I know my financial interests are at stake,” he declared with a flourish! 🖋️
He further vowed to resign from all positions and divest conflicting assets within 90 days of his confirmation. This includes recusing himself from matters related to a16z for two years and from Kalshi for one year—such selflessness! 🙌
Quintenz also assures us he will adhere to the standard conflict of interest laws and obtain ethics briefings, while retaining unpaid trustee positions for two family trusts. A true juggle of responsibilities! 🤹♂️
Trump, in his infinite wisdom, nominated Quintenz to lead the financial regulator back in February, and now we await the Senate’s verdict with bated breath! ⏳
The Great CFTC Exodus Continues!
Alas! The CFTC has witnessed a veritable exodus of commissioners, all in the wake of the Trump administration’s embrace of crypto! With all four remaining positions potentially up for grabs this year, the drama unfolds! 🎬
On May 21, the Democrat Commissioner Kristin Johnson announced her plans to depart the agency later this year. Meanwhile, Commissioners Summer Mersinger and Christy Goldsmith Romero have also declared their intentions to step down on May 30 and May 31, respectively. What a tumultuous time for the CFTC! 🥳
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2025-05-28 08:25