Brian Quintenz, who leads coverage for Andreessen Horowitz’s crypto staff, introduced on Wednesday that he’s being tapped to move the Commodity Futures Trading Commission (CFTC), in response to his X submit. And many 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 can also be concerned within the enforcement of laws impacting some crypto.
He beforehand served as a commissioner for the CFTC in the course of the first Trump administration, in response to his a16z biography and, previous to that, he based the funding agency Saeculum Capital Management.
He joined a16z in 2021 as an advisory companion earlier than turning into head of coverage for its crypto arm.
His appointment obtained assist 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 National Venture Capital Association (NVCA), a lobbying group, launched a press release in assist of Quintenz’s nomination, saying his authorities and enterprise expertise will “provide valuable perspectives as he helms a top regulatory body 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 company launched a press release that made allegations in opposition to this individual. This after Bloomberg reported that there have been inner investigations happening on the company.
Quintenz is the newest affiliate of a16z to search out his technique to the White House. 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 normal companion at a16z, is now a White House senior coverage advisor; Scott Kupor, one of many agency’s managing companions, was tapped to steer the Office of Personnel Management, and Jamie Sullivan, one other investor on the agency, is rumored to be advising DOGE.
