CRYPTO CHAOS: White House BINS CFTC Nominee in Epic Flip! 😂💥

by

Ah, mes amis, behold the farce unfolding in the halls of power! As the dramatists of destiny would have it, the White House hath yanked Brian Quintenz’s nomination to helm the Commodity Futures Trading Commission (CFTC), that pro-crypto scoundrel whose confirmation twas stalled in July, much like a bad soufflé in the oven of bureaucracy. 😏

Quintenz’s CFTC Chair Nomination Withdrawn

On this fateful Tuesday, Politico, our trusty bard of news, doth report that the White House pulled Brian Quintez-for ’tis spelled thus in some chronicles-away from the CFTC throne, owing to opposition from those mighty crypto titans, according to two anonymous shadows who whispered to the outlet. Oh, the intrigue! 🎭

As per the tale, a White House mouthpiece swore that Quintenz’s nomination was withdrawn, declaring, “Brian Quintenz remains a trusted ally and the Trump administration looks forward to working with him in other capacities.” Sarcasm aside, one wonders if “other capacities” mean fetching coffee in a Trump-branded mug. ☕

“President Trump hath made it a priority to crown America the crypto capital of the world, and in doing so hath summoned the revitalization of the Commodity Futures Trading Commission to play a larger role in securing this promise,” the official added, as if reading from a script penned by destiny’s drunken scribe. 🍻

Mind you, the President’s CFTC pick hath languished in limbo since July, when the US Senate Agriculture Committee postponed a vote avant the August recess, all at the behest of the White House, they say. Tis rumored the Winklevoss twins, those Gemini co-founders, pressed Trump to rethink, claiming the man wouldn’t “shake up” the Commission enough-alas, not aligned with His Majesty’s crypto whims! 🙄

Last month, Quintenz did seemingly confirm these gossips, hinting the twins might have “misled” the President via texts. As Bitcoinist recounted, the founders quizzed our nominee on a complaint, only to be met with disappointment. In his missive to Politico, Quintenz quoth, “Being nominated to chair the CFTC and going through the confirmation process was the honor of my life.” He added he’d gladly return to the private sector-perhaps to count his crypto riches in peace. 💰

CFTC’s Pro-Crypto Leadership To Be Determined

Despite Quintenz’s applause from crypto and financial realms alike, opposition mounted: not just the Winklevoss duo, but the gaming industry too, disliking his ties to Kalshi, that prediction market upstart. Ah, petty jealousies in the arena of fortunes! 🎲

Even Democratic Representative Dina Titus chimed on X-formerly Twitter, for the uninitiated-“Good. The CFTC deserves strong, independent leadership that will follow and enforce agency regulations.” A rare voice of reason in this comedy of errors! 📣

The White House promised a new candidate soon; Bloomberg reported two weeks ago they weighed others amid the delay. Contenders include Michael Selig of the SEC’s Crypto Task Force, Tyler Williams from Treasury, Josh Sterling ex-CFTC, and Jill Sommers, another former commissioner. Will the crypto kingdom find its hero? 🤔

Beware, for the anticipated market shift means more crypto oversight for the CFTC, burdening it greatly. The five-person bipartisan commission lingers with only acting Chairwoman Caroline Pham, awaiting a permanent lord. Industry sages cry ’tis critical for a “golden age of crypto innovation.” Or should we say gray age of confusion? 😂

Read More

2025-10-02 08:14