Trump’s CFTC Nominee Accuses Winklevoss Twins of Meddling in Confirmation Process

Political drama hits crypto regulation as Trump's pick for CFTC chair fires shots at the Winklevoss twins—claiming they're pulling strings behind the scenes. Just when you thought D.C. couldn't get more theatrical.

Allegations Fly in Confirmation Battle

The nominee didn't hold back, accusing the billionaire twins of leveraging their influence to sway the confirmation process. No specifics on how—just classic power-play rumors swirling in the halls of power.

Finance insiders shrug—another day, another political circus where money talks and regulators… sometimes listen. Because what's a confirmation hearing without a little crypto-fueled drama?

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.