White House Drops Brian Quintenz as CFTC Chair Nominee

TheCryptoTimesОпубліковано о 2025-10-01Востаннє оновлено о 2025-10-01

Brian Quintenz, a policy leader at Andreessen Horowitz (a16z), who was nominated to chair the Commodity Futures Trading Commission (CFTC), will not be appointed as the head of the CFTC. He was chosen earlier this year to lead the CFTC, but faced major hurdles in getting approved. 

As reported by Politico, Gemini’s Co-Founder Tyler Winklevoss and President Cameron Winklevoss opposed his nomination due to possible conflicts of interest, and there were also concerns about the lobbying efforts of a16z, the firm he works for. They urged the U.S. President Donald Trump to rethink choosing Quintenz for the Wall Street regulator role.

A White House official confirmed the withdrawal, calling Quintenz a “trusted ally” and stating that the Trump administration wants to work with him elsewhere. The official noted Trump’s goal to make America the “crypto capital of the world,” which includes strengthening the CFTC’s role. They added that a new nominee will be announced soon.

CFTC is poised to play a central role in crypto regulation, as lawmakers advance bills to expand its oversight of digital assets. Quintenz further described the nomination and Senate review as “the honor of my life.” He also expressed gratitude to the President and the Senate Agriculture Committee. 

Quintenz’s CFTC role delayed, Selig now leading candidate

Quintenz’s nomination to lead the CFTC faced delays, with the Senate Agriculture Committee canceling votes twice this summer. He previously served as a CFTC commissioner during President Trump’s first term, a move that drew support from the cryptocurrency sector at the time. 

Mike Selig, a top lawyer for the SEC’s crypto task force and advisor to its chair, is now the top contender for the role. Others being considered include lawyers Josh Sterling and Isabelle Corbette Sterling, and former CFTC Commissioner Jill Sommers. 

Also Read: Paul Atkins Calls for SEC–CFTC Harmonization at Joint Roundtable


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Anthropic's IPO Launch: Commercial Miracle or Valuation Bubble?

Anthropic has confidentially filed for an IPO, led by Morgan Stanley and Goldman Sachs, potentially going public by October. Following its latest $650 billion funding round, its pre-IPO valuation stands at $965 billion, with projections reaching up to $2 trillion at listing, which would make it the highest-valued private company ever. The article, written by Fu Sheng, addresses skepticism that this represents an AI bubble akin to the 2000 dot-com crash. It argues the current situation differs fundamentally. Unlike the internet bubble era, which relied on speculative narratives with little revenue, Anthropic's valuation is backed by unprecedented, measurable financial performance. Key data points include: * **Revenue Growth:** ARR skyrocketed from $10 billion in early 2025 to $470 billion by May 2026, targeting $100 billion by year-end—a growth curve unmatched in business history. * **Profitability:** It achieved operating profitability in Q2 2026 with an estimated $5.6 billion profit. * **Efficiency:** With ~3,000 employees and ~$470 billion ARR, its revenue per employee exceeds $10 million. Products like Claude Code, launched less than a year ago, already generate $25 billion in annualized revenue. * **Enterprise Adoption:** It boasts a strong enterprise client base, with 8 of the Fortune 10 and over 1,000 large firms spending over $1 million annually on Claude. The valuation is framed using a traditional SaaS model (e.g., a 10x Price-to-Sales multiple on $100 billion revenue). The author contends the core question for analysts has shifted from "How big could this be?" to "How much is it earning and will earn next quarter?" The discussion extends beyond Anthropic to a broader paradigm shift: the transition from a "carbon-based" to a "silicon-based" economy. Companies are increasingly prioritizing investment in compute and AI capabilities over human resources, as these directly scale productivity and competitive advantage. Anthropic's IPO is thus positioned not just as a corporate milestone, but as a price anchor for this new economic era.

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Anthropic's IPO Launch: Commercial Miracle or Valuation Bubble?

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