Brian Quintenz, who leads coverage for Andreessen Horowitz’s crypto staff, introduced on Wednesday that he’s being tapped to go the Commodity Futures Buying and selling Fee (CFTC), based on his X post. And plenty of within the VC business look like thrilled about it.
The CFTC regulates the buying and selling of commodity futures, choices, and swaps, in any other case often known as derivatives. Additionally it is concerned within the enforcement of rules impacting some crypto.
He beforehand served as a commissioner for the CFTC through the first Trump administration, based on 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 obtained assist from some massive names within the business. 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 helpful views as he helms a prime 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, lately eliminated the top of HR, and the agency released a statement that made allegations towards this individual. This after Bloomberg reported that there have been inside investigations occurring on the company.
Quintenz is the most recent affiliate of a16z to search out his method to the White Home. The agency has change 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 common 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.
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