Donald Trump’s transition team has shortlisted at least six candidates following the resignation of Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam on Tuesday.
Trump’s team is particularly focused on finding a crypto-friendly candidate to lead the CFTC, as the agency could play a pivotal role in regulating the trillion-dollar crypto industry. Unlike in previous years, the CFTC might even oversee the spot markets for Ethereum and Bitcoin, provided Congress gives the necessary authority.
The crypto industry typically prefers the CFTC over the Securities and Exchange Commission (SEC) due to its comparatively lighter regulatory approach. Notably, the crypto sector played a significant role in supporting Trump’s campaign, and Trump leaned heavily on his pro-crypto stance during the election. Reflecting this alliance from crypto community, Trump has already appointed several industry-friendly figures to key positions, including pro-crypto lawyer Paul Atkins to replace Gary Gensler at the SEC and Scott Bessent, a vocal Bitcoin advocate, to head the Treasury Department.
????NEW from me: Crypto industry awaits Trump’s CFTC chair pick as Behnam announces exit
The Trump transition team has vetted at least half a dozen potential candidates to succeed @CFTCbehnam with @BrianQuintenz and @cftcmersinger said to be front-runners.https://t.co/KfQtt5ir6H
— Eleanor Terrett (@EleanorTerrett) January 8, 2025
For the prestigious role of CFTC chair, Trump’s transition team has interviewed notable candidates, including CFTC Commissioner Summer Mersinger, Andreessen Horowitz’s crypto policy chief Brian Quintenz, and Marco Santori, the former chief legal officer for Kraken. Other potential contenders include Republican Commissioner Caroline Pham, Neal Kumar, and Josh Sterling.
Mersinger and Quintenz are regarded as the front-runners for the position due to their extensive government experience and strong connections within Washington, D.C., policy circles. Both have been vocal critics of the SEC’s repressive approach under Gensler and have advocated for proactive collaboration to establish clear and consistent regulatory frameworks for the crypto industry.
Quintenz, who currently controls crypto policy for Andreessen Horowitz’s a16z fund, has built strong relationships with both industry stakeholders and government agencies. During his previous tenure as a Trump-appointed commissioner, he worked on approving regulated futures contracts for Bitcoin and Ethereum.
Mersinger, on the other hand, is recognized for her emphasis on balancing innovation with consumer protection. Her dissenting opinions on several CFTC enforcement actions against decentralized finance (DeFi) companies have earned her widespread respect within the crypto community.
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