Trump Quietly Blocks His Candidate at the CFTC After a Text From the Winklevoss Brothers

Trump likes to remind that he decides alone, but political power is never solitary. Behind the curtain, crypto patrons slide texts that tip a nomination. The Winklevoss brothers, Bitcoin billionaires, proved it. Their millions weigh heavily in the choices of a president who claims to be immune to pressure. This case shows the contradiction of a power that roars its independence in public, while adjusting to the demands of those who finance its ambitions.

When a text pauses a nomination in Washington

In February, Trump had appointed Brian Quintenz, a former member of the CFTC, to lead the agency. Everything seemed set after his Senate hearing in June. But at the end of July, a text exchanged with Tyler Winklevoss changed the game. The crypto billionaire was seeking assurances on how Quintenz would handle Gemini’s disputes with the regulator.

In the message made public, Tyler writes: 

I would like to understand your thoughts and know how you intend to align with President Trump’s mandate to end and remedy the “lawfare”. 

Quintenz declines any promise, explaining that only confirmation would allow him to act. Shortly after, the twins approach Trump, who asks the Senate to suspend the nomination.

This gesture shows how much a president can bend under the influence of financial allies, even when he claims to defend his independence.

The Winklevoss brothers: between crypto, massive donations, and political influence

The Winklevoss brothers are not ordinary donors. In August, they gave $21 million in bitcoin to a pro-Trump political action committee. Already, their massive support had weighed during the 2024 campaign.

Their involvement in crypto regulation is no surprise. Gemini, the exchange they founded, settled a $5 million dispute with the CFTC in January 2025. Since then, the twins have denounced a “trophy hunting” by the regulator. According to Quintenz, they sought a more accommodating CFTC chairman.

Faced with these pressures, he posted a sharp message on X: “I never had the inclination to publish private messages. But in light of my support for the president and my belief that he may have been misled, I have posted here the messages including the questions Tyler Winklevoss asked me about their prior dispute with the CFTC“. 

Thus, behind the declared support for the president, a silent battle is concealed to control crypto regulation.

A weakened CFTC: the US crypto regulator on hold

Since September 3, the agency has operated with only one acting chief: Caroline Pham. A worrying anomaly, as crypto regulation has become a major issue in the United States. Even Josh Sterling, tipped for the job, warned in an op-ed that leaving the regulator “understaffed” endangers markets vital to the American economy. 

This lack of governance weakens an institution supposed to stabilize finance and support crypto innovation.

Some essential markers

• $21 million in bitcoin: Winklevoss donations to a pro-Trump PAC in August, to influence the crypto agenda;
• $5 million: settlement paid by Gemini to the CFTC in January 2025, after a prolonged dispute;
• 3 alternative candidates: Sterling, Selig and Williams are now competing for the vacant chairmanship;
• Since September 3: Caroline Pham is the only active commissioner, managing alone a strategic institution for Wall Street.

This institutional vacuum weakens U.S. crypto regulation, while Europe and Asia are already imposing their standards.

The current crisis reminds us that despite blockages, the CFTC sometimes advances on sensitive issues. It recently opened the way for foreign exchanges for US traders, a clear signal that the crypto market remains central in regulatory priorities. But without stable governance, the United States risks losing its place to better-organized giants.