The White House has announced the nomination of Michael Selig by President Donald Trump to lead the Commodity Futures Trading Commission (CFTC) as the agency grapples with leadership shortages. After the withdrawal of Brian Quintenz’s nomination, David Sacks, the White House crypto and AI czar, confirmed the nomination via posts on X. This new development is critical as the CFTC has several vacant positions that must be filled soon.

Selig shared on X and reiterated Trump’s aim to establish the US as a ‘crypto capital.’ This announcement comes during a prolonged government shutdown, which complicates legislative priorities.

Source: Michael Selig

In conversations, former CFTC Chair Chris Giancarlo remarked on the challenges that lie ahead for the CFTC under interim leadership, highlighting the agency’s need to meet staffing requirements for effective governance. Meanwhile, Senate confirmation hearings for Selig and potential other candidates remain pending.