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Brian Quintenz Under Fire for Kalshi Involvement

2025-08-05 09:17:31

Main Idea

Democratic Representative Dina Titus raises ethical concerns about Brian Quintenz's CFTC bid due to his involvement with Kalshi, while the CFTC advances a 'crypto sprint' initiative to implement digital asset market recommendations.

Key Points

1. Dina Titus questions Brian Quintenz's CFTC bid over potential conflicts of interest related to his role on Kalshi's board and stock holdings.

2. Quintenz plans to resign from Kalshi and divest his holdings, but Titus notes he may soon be the only commissioner at the CFTC.

3. The Winklevoss twins withdrew support for Quintenz, citing insufficient alignment with the administration's crypto agenda.

4. The CFTC launches a 'crypto sprint' to implement 18 recommendations from Trump's Working Group on Digital Asset Markets, including enabling crypto spot trading on regulated exchanges.

5. The CFTC seeks public feedback on regulatory frameworks under the Commodity Exchange Act and Part 40 of its regulations, with comments open until Aug. 18.

Description

Titus pointed to concerns that Quintenz, who serves on Kalshi’s board and holds stock options, may have sought competitive intelligence and influenced CFTC decisions before his official confirmation. With Acting Chair Caroline Pham and Commissioner Kristin Johnson set to depart, Titus warned that Quintenz could soon be the sole decision-maker at the agency, raising serious ethical concerns. Meanwhile, the CFTC is pushing forward with a new initiative to enable the trading of spot crypto asset co...

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