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), in accordance with his X post. And plenty of within the VC trade seem like thrilled about it.
The CFTC regulates the buying and selling of commodity futures, choices, and swaps, in any other case often called derivatives. It’s also concerned within the enforcement of rules impacting some crypto.
He beforehand served as a commissioner for the CFTC through the first Trump administration, in accordance with his a16z biography and, previous to that, he based the funding agency Saeculum Capital Administration.
He joined a16z in 2021 as an advisory associate earlier than changing into head of coverage for its crypto arm.
His appointment acquired assist from some massive 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 a press release in assist of Quintenz’s nomination, saying his authorities and enterprise expertise will “present precious views as he helms a high regulatory physique for the crypto market.”
His pending appointment comes at a time when the CFTC has been mired in controversy. The performing chair, Caroline Pham, not too long ago eliminated the pinnacle of HR, and the agency released a statement that made allegations in opposition to this particular person. This after Bloomberg reported that there have been inside investigations happening on the company.
Quintenz is the newest affiliate of a16z to search out his solution 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 claimed to be quietly helping with government staff recruitment.
Elsewhere, Sriram Krishnan, former basic associate 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.
