CFTC Chair Nominee Leaks Winklevoss Twins’ Private Texts Just Before Gemini’s IPO Launch

Regulatory drama hits crypto's golden boys as private messages surface—right as their exchange gears up for its public debut.

Behind the Curtain

The CFTC's top pick drops bombshell texts from Cameron and Tyler Winklevoss, pulling back the curtain on high-stakes fintech maneuvering. No numbers were disclosed, but the timing couldn't be more suggestive—or more suspicious.

IPO Under Fire

Gemini’s long-awaited public offering now swims in choppy regulatory waters. The leak raises questions about backchannel strategizing, just as the twins aim to win over traditional investors—you know, the folks who still think 'blockchain' is a type of Peloton accessory.

Nothing fuels market confidence like a nicely timed exposé—especially when it comes from the very regulators meant to keep things clean.

Gemini’s Founders Accused of Influencing Chair’s Confirmation

The Trump-nominated CFTC chair shared screenshots of the exchanges on X, accusing the two of attempting to interfere with his admission to the agency over concerns related to their civil case with the regulator.

In the messages, Tyler forwarded a June complaint that accused CFTC staff of misconduct in the exchange’s legal battle and asked for his input. He accused the agency of “lawfare trophy hunting” and asked Quintenz how he planned to align with Trump’s mandate to reform it.

However, he refused to make any promises, instead vowing to undertake “a fair and reasonable review of the matter.” After this, the two allegedly approached President TRUMP to push for a delay in his confirmation.

“I believe these texts make it clear what they were after from me, and what I refused to promise. It’s my understanding that after this exchange, they contacted the President and asked that my confirmation be paused for reasons other than what is reflected in these texts,” the X post stated.

The policy advisor concluded by saying that transparency comes first and protecting Trump’s agenda matters more than any job, adding he has supported him since 2016 and will continue to do so.

The Senate Agriculture Committee had planned to hold a confirmation hearing for Quintenz in late July. However, just before Congress went on its month-long break, the WHITE House reportedly asked the committee to delay the hearing. Furthermore, the committee has not yet heard from the administration on whether to reschedule the vote.

Gemini’s IPO

Gemini had made a $5 million settlement in January with the regulator following allegations that the crypto exchange misled the CFTC during the approval process for a Bitcoin futures product.

However, in June, the firm’s attorney sent a letter to the agency’s internal watchdog accusing its lawyers of pursuing the case for personal gain. He claimed they were “driven by a selfish desire to advance their careers by misusing their offices to obtain a high-profile win” against Gemini.

Elsewhere, the company is just days away from its IPO. Gemini plans to list on Nasdaq under the ticker GEMI, with backing from major institutional partners, including a $50 million private placement from Nasdaq itself. The platform is seeking a valuation above $3 billion and plans to sell 16.7 million Class A shares priced between $24 and $26, which could generate over $430 million.