CFTC commissioner to leave agency on May 31

Published

6 months ago

May 16, 2025

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CFTC commissioner to leave agency on May 31

Christy Goldsmith Romero of the US Commodity Futures Trading Commission (CFTC) will step down on May 31, leaving three seats open at the financial regulator.

In a May 16 announcement, Romero said her last day at the agency would be on May 31, ahead of her reported initial plans to leave if the Senate confirmed former commissioner Brian Quintenz as the new chair. Her departure will come a day after Commissioner Summer Mersinger is expected to step down to join the crypto advocacy organization the Blockchain Association as CEO.

“It has been a tremendous honor to conclude my 23 years of federal service at an agency with such an important mission to ensure that financial markets perform their critical role in the US and global economies,” said Romero.

Romero and Mersinger’s upcoming departures would leave the CFTC with only two Senate-confirmed members: acting chair Caroline Pham and Commissioner Kristin Johnson, each taking one Republican and Democratic seat, respectively. However, Pham also announced that she planned to leave after Quintenz’s confirmation. The shakeup in leadership potentially gives President Donald Trump the opportunity to pick three more commissioners after the Senate addresses Quintenz’s nomination.

Assuming Quintenz, likely being positioned for one of the CFTC’s Republican seats, is confirmed, Trump would still be able to radically change the leadership of the commission by choosing four of the five-member panel. CFTC rules require that no more than three commissioners belong to the same political party.

Congress looking to clarify SEC, CFTC roles on crypto

The shakeup in leadership at one of the most significant US financial regulators came as lawmakers in the House were considering draft legislation that could establish a digital asset regulatory framework. The bill is expected to clarify oversight and enforcement authority of the CFTC and Securities and Exchange Commission (SEC) over many cryptocurrencies.

During her time at the commission, starting in 2022, Romero helped establish the CFTC’s Technology Advisory Committee, in part in response to addressing regulatory concerns from the crypto industry. She also supported a joint effort by US authorities against cryptocurrency exchange Binance, which resulted in a $2.7-billion settlement with the CFTC.

Magazine: SEC’s U-turn on crypto leaves key questions unanswered

Politics

MEV bot trial ends in mistrial after jury deadlock on brothers’ verdict

Published

6 hours ago

November 8, 2025

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MEV bot trial ends in mistrial after jury deadlock on brothers’ verdict

A New York jury was unable to reach a verdict in the case of Anton and James Peraire-Bueno, the MIT-educated brothers accused of fraud and money laundering related to a 2023 exploit of the Ethereum blockchain that resulted in the removal of $25 million in digital assets.

In a Friday ruling, US District Judge Jessica Clarke declared a mistrial in the case after jurors failed to agree on whether to convict or acquit the brothers, Inner City Press reported.

The decision came after a three-week trial in Manhattan federal court, resulting in differing theories from prosecutors and the defense regarding the Peraire-Buenos’ alleged actions involving maximal extractable value (MEV) bots.

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A MEV attack occurs when traders or validators exploit transaction ordering on a blockchain for profit. Using automated MEV bots, they front-run or sandwich other trades by paying higher fees for priority.

In the brothers’ case, they allegedly used MEV bots to “trick” users into trades. The exploit, though planned by the two for months, reportedly took just 12 seconds to net the pair $25 million.

In closing arguments to the jury this week, prosecutors argued that the brothers “tricked” and “defrauded” users by engaging in a “bait and switch” scheme, allowing them to extract about $25 million in crypto. They cited evidence suggesting that the two plotted their moves for months and researched potential consequences of their actions.

“Ladies and gentlemen, bait and switch is not a trading strategy,” said prosecutors on Tuesday, according to Inner City Press. “It is fraud. It is cheating. It is rigging the system. They pretended to be a legitimate MEV-Boost validator.”

In contrast, defense lawyers for the Peraire-Buenos pushed back against the US government’s theory of the two pretending to be “honest validators” to extract the funds, though the court ultimately allowed the argument to be presented to the jury.

“This is like stealing a base in baseball,” said the defense team on Tuesday. “If there’s no fraud, there’s no conspiracy, there’s no money laundering.”