Accusations of Interference in Regulatory Appointment
Former CFTC commissioner Brian Quintenz has made a startling accusation against Gemini founders Tyler and Cameron Winklevoss. According to Quintenz, the twins attempted to derail his potential return to the agency as its next chairman. This revelation came in a detailed X post on September 9, where Quintenz shared text messages from July 24 that showed the Gemini co-founders questioning him about the CFTC’s 2022 enforcement lawsuit against their exchange.
Private Concerns and Public Implications
In one of the messages, Tyler Winklevoss asked Quintenz how he planned to align with President Trump’s administration and its mandate to end lawfare, seeking assurances on reforms and future enforcement actions. Tyler even offered to raise the issue with the President or other necessary parties if internal resistance was a concern. However, Quintenz declined to give any promises, stating that such decisions should be made by a fully confirmed chair after Senate approval.
Stalled Nomination and Regulatory Implications
Shortly after the exchange, the White House asked the Senate Agriculture Committee to pause Quintenz’s nomination, leaving the confirmation process stalled. This development comes as Gemini prepares for a planned Nasdaq listing with a reported $3 billion market-cap target. The timing overlap may have heightened the twins’ concerns about regulatory posture, prompting Quintenz to argue that their outreach was an attempt to sway an independent regulator for private advantage.
Background: Gemini vs CFTC Saga
The dispute between Gemini and the CFTC dates 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. Gemini has consistently denied any wrongdoing. In June 2025, Gemini filed a 13-page complaint with the CFTC’s Office of Inspector General, as previously reported by bitpulse.
Complaint Details and Allegations
The complaint accused the commission’s Division of Enforcement of abusing the deliberative process privilege and pursuing the lawsuit despite learning that the investigation began with a false whistleblower. It further alleged that staff lawyers sought a 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.
Public Response and Next Steps
Publicly, Gemini’s leadership amplified the allegations, with Tyler Winklevoss posting the letter online and accusing the CFTC of seven years of lawfare and trophy hunting. He called 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, leaving the outcome of this regulatory saga uncertain.