According to reports, Gemini co-founders Cameron and Tyler Winklevoss brothers have requested that Donald Trump withdraw the nomination of Brian Quintenz as the chairman of the Commodity Futures Trading Commission (CFTC). If this rumor is true, it could cause various variables in the cryptocurrency industry.
Will Brian Quintenz Lead the CFTC?
The Commodity Futures Trading Commission (CFTC) is one of the major financial regulatory agencies in the United States. It has recently been reduced to two commissioners due to resignations.
President Trump has already nominated Brian Quintenz as the next chairman of the CFTC, but his confirmation process has recently encountered many obstacles.
According to a new report from Politico, the Winklevoss brothers urged Trump to find a new candidate.
When this delay first occurred, rumors circulated that Quintenz's board position at Kalshi could conflict with the CFTC appointment.
However, this new report claims that the Gemini co-founders and cryptocurrency billionaires are exerting political pressure. Tyler Winklevoss initially supported Quintenz, but this may have changed.
"Some people say it's due to concerns about vote counts, while others point to lobbying by the US Game Association regarding Quintenz's support for prediction markets. Others cite the unease expressed by industry figures like the Winklevoss brothers," wrote Eleanor Terrett.
So why don't the Winklevoss brothers want Quintenz as CFTC chairman?
A key clue can be found in their reaction to the SEC withdrawing charges against Gemini. As soon as the committee announced its decision, Cameron issued a hostile statement demanding "serious consequences for excessive enforcement actors".
In other words, there are proactive legislative efforts to grant the CFTC more authority over cryptocurrency regulation. Even a friendly agency might still have too much power.
The report mentioned that Quintenz aimed to increase the CFTC budget to better handle new cryptocurrency responsibilities. The Winklevoss brothers allegedly claimed this "does not align with Trump's agenda".
A similar incident occurred months ago. Despite the SEC's firm shift towards cryptocurrency, Elon Musk's D.O.G.E. still reduced its operational capacity. The Winklevoss brothers might believe a weaker CFTC under Quintenz is preferable to a strong one.
The White House is dumping Quintenz because he supports modest budget increases at the CFTC to address a surge in responsibilities when crypto gets booted from the SEC. Mask off: crypto will ensure the CFTC can't enforce even the meager guardrails in market structure legislation https://t.co/gM6mtJ3yEY
โ Amanda Fischer (@amandalfischer) July 30, 2025
However, this is still just a delay. White House spokesperson Liz Houston confirmed that "Brian Quintenz remains Trump's nominee for CFTC chairman" and Trump is "expecting his swift confirmation".
This is a strong indication of confidence, though it could change until Quintenz is officially confirmed.
In summary, there is tension between different cryptocurrency factions' views on political power. Are strong cryptocurrency alliances better than powerless opponents?
These questions were repeated during the SEC's changes and may continue with Quintenz's role at the CFTC.
