Brian Quintenz, who leads coverage for Andreessen Horowitz’s crypto workforce, introduced on Wednesday that he’s being tapped to move the Commodity Futures Buying and selling Fee (CFTC), in response to his X put up. 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 often called derivatives. It’s also concerned within the enforcement of rules impacting some crypto.
He beforehand served as a commissioner for the CFTC throughout the first Trump administration, in response to 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 changing into head of coverage for its crypto arm.
His appointment obtained help from some huge 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 workers 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 helpful 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, just lately eliminated the top of HR, and the company launched an announcement that made allegations in opposition to this particular person. This after Bloomberg reported that there have been inner investigations happening on the company.
Quintenz is the newest 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 claimed to be quietly serving to with authorities workers 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 steer the Workplace of Personnel Administration, and Jamie Sullivan, one other investor on the agency, is rumored to be advising DOGE.
