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Donald Trump taps crypto advocate a16z’s Brian Quintenz for CFTC leadership

Industry leaders back Brian Quintenz's nomination, highlighting his past efforts at the CFTC and potential to revamp crypto oversight.

CryptoSlate

Feb 12

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Happy Wednesday!

In a significant move for the crypto industry, Donald Trump has nominated Brian Quintenz, a former CFTC Commissioner and current policy head at Andreessen Horowitz (a16z), to lead the Commodity Futures Trading Commission. This nomination signals a potential shift towards more innovation-friendly crypto regulations in the U.S., with industry leaders backing Quintenz's appointment due to his past advocacy for clearer oversight. Meanwhile, Federal Reserve Chair Jerome Powell has reaffirmed that there will be no central bank digital currency (CBDC) under his leadership, and Standard Chartered predicts Bitcoin could reach new highs as U.S. treasury yields stabilize.

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The global crypto market cap is $3.14 trillion, with a 24-hour volume of $118.88 billion. The price of Bitcoin is $95,825.74, and BTC market dominance is 60.3%. The price of Ethereum is $2,608.85, and ETH market dominance is 10.0%. The best-performing sector is Bitcoin Ecosystem, which gained 12%. The Crypto Fear & Greed Index is currently Fear (46).