Brian Quintenz, a former Commodity Futures Trading Commission (CFTC) commissioner and current head of crypto policy at venture capital firm a16z, confirmed Tuesday that the Trump administration has withdrawn his nomination to chair the agency.

“Being nominated to chair the CFTC and going through the confirmation process was the honor of my life,” Quintenz told Cointelegraph, after Politico first reported the news. “I am grateful to the president for that opportunity and to the Senate Agriculture Committee for its consideration. I look forward to returning to my private sector endeavors during this exciting time for innovation in our country.”

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Quintenz, who served on the CFTC from 2017 to 2021 and became a prominent advocate for crypto policy at Andreessen Horowitz, had been widely supported by industry stakeholders. His nomination, however, faced repeated delays in Congress and—according to Quintenz—behind-the-scenes resistance from Gemini co-founders Tyler and Cameron Winklevoss.

Brian Quintenz speaks during a Congressional nomination hearing in June. Source: Senate Agriculture Committee

The White House has not officially explained why his nomination was pulled, and no replacement candidate has yet been named.

Quintenz, Winklevoss Clash Over Nomination

Last month, Quintenz publicly accused the Winklevoss brothers of lobbying against him. On X (formerly Twitter), he released private text exchanges suggesting the Gemini founders pressured him to commit to favorable regulatory outcomes for their firm.

“I believe these texts make it clear what they were after from me, and what I refused to promise,” Quintenz wrote. “It’s my understanding that after this exchange, they contacted the president and asked that my confirmation be paused.”

In the messages, the Winklevoss twins appeared frustrated over Quintenz’s refusal to weigh in on Gemini’s civil case with the CFTC, which the exchange settled for $5 million in January. They also called for “cultural reform” at the CFTC and an end to what they described as “lawfare” against crypto companies. Quintenz replied that he would only address such matters if he were formally confirmed to lead the agency.

The dispute reportedly played a role in undermining Quintenz’s candidacy, leaving the CFTC without a confirmed chair for nearly a year. Acting Chair Caroline Pham, who had previously indicated she would step aside once Quintenz was confirmed, remains at the helm for now.

Why the CFTC Matters for Crypto

The uncertainty around the CFTC’s leadership comes at a pivotal time for the crypto industry. The Digital Asset Market Clarity Act, currently moving through Congress, seeks to define which digital assets are regulated as securities under the SEC and which are classified as commodities under the CFTC.

If passed, the bill would grant the CFTC primary oversight of sufficiently decentralized assets such as Bitcoin (BTC) and Ether (ETH), positioning it as a central regulator for much of the crypto market.

Industry insiders argue that having a stable, crypto-aware chair at the CFTC will be crucial for establishing regulatory clarity in the U.S., a process that has faced years of delays and uncertainty.