President Donald Trump has nominated Mike Selig, chief counsel of the SEC's crypto task force, to lead the Commodity Futures Trading Commission. The selection follows the withdrawal of previous nominee Brian Quintenz amid opposition from crypto donors Tyler and Cameron Winklevoss. If confirmed, Selig would oversee the agency's expanding role in regulating the $4 trillion crypto market.
On October 25, 2025, White House crypto czar David Sacks announced President Trump's nomination of Mike Selig as the next chair of the U.S. Commodity Futures Trading Commission (CFTC). Selig, who has served as chief counsel for the Securities and Exchange Commission's (SEC) crypto task force since March and advises SEC Chair Paul Atkins, brings prior experience as a law clerk at the CFTC under former Chairman Chris Giancarlo and as a partner at Willkie Farr & Gallagher, where he supported crypto initiatives and criticized former SEC Chair Gary Gensler.
The nomination replaces Brian Quintenz, head of policy at Andreessen Horowitz's crypto arm, whose bid stalled due to pushback from Gemini co-founders Tyler and Cameron Winklevoss. They objected over a seven-year CFTC investigation into Gemini that ended with a $5 million consent order earlier in 2025. Quintenz publicly shared text messages from the twins, in which Tyler Winklevoss urged cultural reform at the agency to align with Trump's agenda and end 'lawfare.' Despite broad industry support for Quintenz, including a letter to Trump, the White House withdrew his nomination.
Selig expressed honor at the nomination in a statement on X: 'I am honored to be nominated by President Trump to serve as the 16th Chairman of the U.S. Commodity Futures Trading Commission. I pledge to work tirelessly to facilitate Well-Functioning Commodity Markets, promote Freedom, Competition and Innovation, and help the President make the United States the Crypto Capital of the World.'
The crypto industry welcomed the pick. Crypto Council for Innovation CEO Ji Kim stated on X: 'His work at the CFTC, SEC, and in private practice gives him a rare perspective on markets, consumer protection, and technology — key to ensuring clarity, stability, and the golden age for innovation and financial markets in the U.S.' Blockchain Association CEO Summer Mersinger added: 'Mike’s deep expertise in financial markets and digital assets at the SEC makes him exceptionally well positioned to bring clarity, balance, and forward-looking guidance to the commission’s work.' DeFi Education Fund Executive Director Amanda Tuminelli noted: 'He understands the tech and the need to allow room for innovation, but also cares about getting to the right legal answer.'
The CFTC, which has regulated bitcoin as a commodity since 2015 and approved crypto futures in 2017, currently oversees trillions in derivatives trading, including oil futures and election betting. Legislation like the House-passed Digital Asset Market Clarity Act aims to grant it direct oversight of spot crypto trading for assets like bitcoin and ether, though the Senate version remains pending. The agency has been short-staffed and led solely by Acting Chair Caroline Pham since September 3; she plans to depart upon her successor's confirmation. Under Paul Atkins, the SEC has prioritized crypto regulation, while Pham has pursued a 'crypto sprint' at the CFTC.