The Trump administration has withdrawn its nominee to lead the Commodity Futures Trading Commission (CFTC), a White House official confirmed Tuesday evening.

Brian Quintenz, global head of policy at a16z crypto and a former CFTC commissioner, was tapped by President Trump in February to lead the agency, as it prepares to take on a larger role regulating the crypto industry.

Quintenz initially appeared poised for an easy confirmation process. However, after his progress stalled in the Senate Agriculture Committee, he accused crypto billionaires Cameron and Tyler Winklevoss of impeding his confirmation.

He shared a series of private messages between himself and the Winklevoss twins earlier this month, suggesting that Trump “might have been misled.”

“I believe these texts make it clear wh

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