Trump’s CFTC pick claims Winklevoss twins meddled with confirmation

Former CFTC commissioner Brian Quintenz has accused Gemini founders Tyler and Cameron Winklevoss of trying to derail his return to the agency as its next chairman.

Quintenz, President Trump’s nominee to lead the Commodity Futures Trading Commission, laid out the accusation in a detailed X post on September 9. He released text messages from July 24 showing that Gemini co-founders Tyler and Cameron Winklevoss privately questioned him about the CFTC’s 2022 enforcement lawsuit against their exchange. 

In one message, Tyler asked how Quintenz planned to “align with President Trump and the Administration’s mandate to end the lawfare and make amends for it,” seeking assurances on both reforms and how future enforcement actions would be handled. He offered to “raise the issue with the President himself or whoever else you think necessary” if internal resistance was a concern.

Quintenz said he declined to give any promises, replying that such decisions should rest with a fully confirmed chair after Senate approval. But shortly after the exchange, he noted, the White House asked the Senate Agriculture Committee to pause his nomination, leaving the confirmation process stalled.

The dispute surfaces just as Gemini is preparing for a planned Nasdaq listing with a reported $3 billion market-cap target, a timing overlap that Quintenz suggested may have heightened the twins’ concerns about regulatory posture. He argues their outreach was an attempt to sway an independent regulator for private advantage, while his nomination remains on hold with no new hearing scheduled.

Gemini vs CFTC saga explained

The fight between Gemini and the CFTC stretches back to June 2022, when the agency sued the crypto exchange for allegedly making false or misleading statements during its 2017 bid to launch the first U.S.-regulated Bitcoin futures contract to which Gemini has consistently denied wrongdoing. 

In June 2025 Gemini filed a 13-page complaint with the CFTC’s Office of Inspector General, as previously reported by crypto.news. The letter accused the commission’s Division of Enforcement of “abusing the deliberative process privilege” and pursuing the lawsuit even after learning the investigation began with “a false whistleblower.” 

It further alleged that staff lawyers sought “a selfish high-profile win” by targeting Gemini instead of the actual wrongdoers. The complaint detailed specific grievances, including claims that enforcement attorneys misrepresented facts and wasted millions of taxpayer funds to “sue an innocent party all because ‘victory’ would serve their personal interests and agendas.”

Gemini added that these tactics undermined due process and eroded trust in the agency’s ability to regulate fairly. Publicly, the exchange’s leadership amplified the allegations. Tyler Winklevoss posted the letter online and accused the CFTC of seven years of lawfare trophy hunting, calling for sweeping cultural reform and accountability within the agency. 

As of now, neither of the Winklevoss twins has issued a public response to Quintenz’s claims. Similarly, the CFTC has not publicly commented on the exchange’s complaint, and it remains to be seen how the broader tussle among the parties unfolds.