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Trump Nominee Mike Selig Set for CFTC Confirmation Hearing as Crypto Bill Advances
Trump’s CFTC pick will face senators just as crypto legislation starts moving through Congress again.
Nov 12, 2025, 3:57 p.m.
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What to know:
- President Donald Trump's nominee for the U.S. Commodity Futures Trading Commission, Mike Selig, will have his Senate confirmation hearing on Nov. 19, 2025.
- Selig, currently leading the SEC’s Crypto Task Force, was nominated after the withdrawal of former CFTC commissioner Brian Quintenz.
- If confirmed, Selig would oversee the CFTC as Congress finalizes a bill that could give the agency authority over crypto spot trading.
U.S. President Donald Trump’s nominee to lead the Commodity Futures Trading Commission, Mike Selig, will face his Senate confirmation hearing on Nov. 19, 2025, as Washington edges closer to reshaping crypto oversight.
Selig, currently chief counsel of the SEC’s Crypto Task Force, was formally tapped last month after Trump withdrew his earlier choice, former CFTC commissioner Brian Quintenz.
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CoinDesk reported in early October that Selig had become a frontrunner for the role.
If confirmed, Selig would take over from acting chair Caroline Pham as lawmakers resume their push to finalize crypto market structure bill, which could grant the CFTC direct authority over spot trading in crypto.
The path forward still requires the Senate Agriculture Committee to hold a markup hearing for its bill as well as for the Senate Banking Committee to finalize and hold a markup hearing for its own version of the bill. Then the Senate would need to hold a floor vote on the combined effort, which if successful would send the bill to the House of Representatives for another vote, steps that could push the process into early 2026.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Ukraine banned Polymarket and there’s no legal way for it to come back
Polymarket and similar platforms are considered unlicensed gambling operators, leading to blocked access.
What to know:
- Ukraine has no legal framework for Web3 prediction markets, and current legislation provides no recognition for such platforms.
- Polymarket and similar platforms are considered unlicensed gambling operators, leading to blocked access.
- Legal changes are unlikely in the near future, as Parliamentary revisions to gambling definitions are extremely improbable during wartime, leaving prediction markets in a legal deadlock.
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