tl;dr
Tyler Winklevoss, co-founder of Gemini, accused CFTC chair nominee Brian Quintenz of obstructing the exchange amid a legal dispute, just days before Gemini’s IPO. Winklevoss shared a complaint alleging the CFTC unfairly targeted Gemini in a seven-year legal campaign. He claimed the agency pursued ...
**Crypto Clash: Winklevoss Accuses CFTC Nominee of Obstruction, Days Before Gemini IPO**
The battle over regulatory oversight in the crypto world has taken a dramatic turn as Tyler Winklevoss, co-founder of Gemini, alleged that CFTC chair nominee Brian Quintenz refused to promise favorable treatment for his exchange amid a years-long legal feud with the commission. The dispute, revealed through private text messages released on Sept. 10, has intensified just two days before Gemini’s highly anticipated IPO on Sept. 12.
Winklevoss shared a 13-page complaint filed by Gemini against the CFTC Inspector General in a July 2025 exchange, accusing the agency of pursuing “dubious false statements charges” and “selectively and unfairly weaponizing” enforcement against the company. He described the CFTC’s actions as a seven-year campaign of “lawfare trophy hunting,” questioning why the commission targeted Gemini instead of parties that allegedly defrauded the exchange of $10 million or CBOE, a major competitor.
The leaked messages also raised concerns about the CFTC’s investigation into Gemini, which Winklevoss claimed was launched based on a “false whistleblower.” He urged Quintenz to prioritize “cultural reform” and align with President Trump’s mandate to end “regulatory warfare,” arguing that the agency’s actions have stifled innovation in the crypto sector.
Quintenz, however, refused to make specific commitments, insisting that any decisions regarding the complaint would be made by the confirmed chair. In messages shared with the public, he emphasized his commitment to “addressing matters fully and fairly if and when I am confirmed,” while stressing the need for “proper process.” He also revealed that he had “a very poor experience” with current CFTC leadership, citing a history of “unfair treatment” on critical issues.
Winklevoss expressed disappointment that Quintenz hadn’t reviewed Gemini’s complaint, despite prior discussions. He also alleged that Quintenz had contacted Trump in an effort to pause his confirmation, though the exact reasons remain undisclosed. Quintenz defended his actions, stating he disclosed the conversations to protect the president from “misinformation” and to demonstrate his commitment to transparency over personal advancement.
The timing of the revelations—just days before Gemini’s IPO—adds a layer of urgency to the conflict. With the exchange poised to go public, the CFTC’s stance on its legal battles could influence investor confidence and the broader regulatory landscape for crypto firms.
As the confirmation process unfolds, the clash between Winklevoss and Quintenz underscores a growing tension between crypto industry leaders and regulators, raising questions about the future of oversight in a sector still grappling with its role in the financial system.