Trump has blocked the nomination of Brian Quintenz to lead the Commodity Futures Trading Commission (CFTC) following a text from Tyler Winklevoss. The Winklevoss twins, who contributed $21 million in Bitcoin to a pro-Trump political action committee, sought assurances on Quintenz's approach to Gemini's regulatory issues. Quintenz's refusal to provide such assurances led Trump to request the Senate to withdraw his nomination. This decision leaves Caroline Pham as the sole acting chair of the CFTC, posing governance challenges and raising concerns about the future of U.S. cryptocurrency regulation.
Trump Halts CFTC Nominee After Winklevoss Intervention
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