What to know:

• Commodity Futures Trading Commission chair nominee Brian Quintenz released text messages with Gemini co-founder Tyler Winklevoss, implying Winklevoss had “misled” President Donald Trump regarding opposition to Quintenz’s nomination.
• Quintenz was expected to have an easy confirmation, but the committee with jurisdiction postponed a vote numerous times.
• Winklevoss had previously indicated to CoinDesk that he viewed Quintenz’s perspective on developer protections as “disqualifying.”

Brian Quintenz, chosen by President Donald Trump to lead the Commodity Futures Trading Commission, posted a text exchange with Tyler Winklevoss in his first public statement since the confirmation process stalled earlier this summer at the request of the White House, expressing his belief that Trump may have been misinformed. In the shared messages, dated July 24, Winklevoss queries Quintenz about a prior announcement regarding Gemini’s complaint with the CFTC.

Quintenz articulated that these exchanges clarify his position and the promises he refused, emphasizing that this is an atypical approach for a nominee amidst a federal confirmation process. He suggested that following this interaction, stakeholders contacted the president to halt his confirmation for reasons differing from what had been represented.

Before senators left Washington for their August recess, Quintenz’s nomination was perceived to be on track for a routine procedural step in the Senate Agriculture Committee. However, the White House intervened, halting procedures without detailed explanations, despite Winklevoss running a public campaign against Quintenz’s confirmation.

Winklevoss had previously stated concerns about Quintenz’s stance on the CFTC’s budget for cryptocurrency oversight, legal accountability for developers, and Quintenz’s alleged attempts to influence the CFTC on behalf of prediction market firm Kalshi.

Quintenz’s remarks on Wednesday indicated that Winklevoss was dissatisfied due to Quintenz not supporting criticisms against CFTC enforcement actions after charges against Gemini were pursued.

The exchange included discussions about Winklevoss’s recommendations and the expected oversight after Quintenz’s possible confirmation, emphasizing the need for appropriate leadership in matters pertaining to the agency’s functioning.

Winklevoss also expressed his willingness to discuss concerns directly with the president if Quintenz believed there were internal threats from current employees at the CFTC. The authenticity of the texts could not be verified independently by CoinDesk.

Throughout the summer, a coalition of the cryptocurrency industry appealed to President Trump to confirm Quintenz, emphasizing his qualifications for leading the CFTC, yet a follow-up vote for his confirmation has not yet been scheduled by the committee.