There’ll soon be a new sheriff at the U.S. Commodity Futures Trading Commission (CFTC), and it won’t be former Commissioner Brian Quintenz.
Michael Selig: The Crypto Lawyer Nominated for CFTC Chair
Brian Quintenz, a former commissioner at the CFTC and current global head of policy at the crypto division of Silicon Valley venture firm Andreessen Horowitz, was well on his way to becoming Trump’s new CFTC Chair. But a clash with the Winklevoss twins over the regulator’s seven-year feud with crypto exchange Gemini, which is owned by the twins, took Quintenz out of the running.
Read more: Brian Quintenz CFTC Chair Nomination Delayed Again
Enter Michael Selig: Chief Counsel of the Crypto Task Force at the U.S. Securities and Exchange Commission (SEC) and an experienced crypto lawyer. Just last month, the president nominated Selig for the highly coveted CFTC chair position, and on Thursday, Selig cleared the first hurdle. The Senate Committee on Agriculture, which has legislative oversight of commodities, including cryptocurrencies such as Bitcoin, advanced Selig’s nomination to the full Senate via a 12-11 vote. He will now be grilled by legislators, with a potential confirmation taking place over the next few weeks.
Selig is no stranger to the CFTC; he clerked at the organization under former chair J. Christopher “Crypto Dad” Giancarlo in 2014. He then scored an associate position at New York-based Cadwalader, Wickersham & Taft LLP in 2015. By 2018, he had moved to Perkins Coie, a law firm with strong crypto expertise. He used that experience to land a gig as counsel at Willkie Farr & Gallagher LLP, where Giancarlo currently serves as a senior partner. Then, in March 2025, he transitioned to the SEC, where he would probably have remained, had the Winklevoss twins not muscled out Quintenz.
But all is well that ends well. Quintenz’s loss has become Selig’s gain, and many prominent figures, such as Giancarlo and Trump’s crypto czar, David Sacks, are hailing Selig as best suited to make America the crypto capital of the world.
“President Trump has made an excellent choice in Mike Selig,” Sacks wrote on X. “Mike has not only been instrumental in driving forward the President’s crypto agenda as Chief Counsel of the SEC Crypto Task Force, he also brings deep experience in traditional commodities markets.”
FAQ ⚡
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Why was Michael Selig nominated for CFTC chair?
Trump tapped Selig because of his crypto-focused legal background and his role leading the SEC’s Crypto Task Force. -
What happened to Brian Quintenz’s expected nomination?
Quintenz was sidelined after tensions with the Winklevoss twins over Gemini’s seven-year dispute with the CFTC. -
How far along is Selig in the confirmation process?
Selig has already cleared the Senate Agriculture Committee and now awaits a full Senate confirmation vote. -
Why is Selig’s nomination important for the crypto industry?
Industry leaders say his experience positions him to advance Trump’s goal of making the U.S. the global hub for digital assets.