Winklevoss Twins Lobbied Trump to Drop CFTC Nominee, Politico Reports
Crypto billionaires Tyler and Cameron Winklevoss personally lobbied President Donald Trump last weekend to abandon his own nominee to lead a key Wall Street regulator, according to a new report from Politico. The high-level intervention from the Gemini founders reportedly led to the White House requesting a last-minute delay of the Senate committee vote on Brian Quintenz’s nomination to head the Commodity Futures Trading Commission (CFTC).
A Direct Appeal to the President
As reported by Politico, the billionaire brothers, who are prominent Trump supporters, reached out to the president directly with their concerns.
They allegedly told Trump he should “dump” Quintenz, arguing that the former CFTC commissioner would not “shake up” the agency enough and was not fully aligned with the president’s agenda.
The lobbying effort had an immediate impact. The Senate Agriculture Committee scrapped its planned Monday vote on the nomination at the White House’s request.
However, the administration later moved to quell speculation that Quintenz was being dropped, with a spokesperson stating he “remains President Trump’s nominee” and “will help execute President Trump’s mission of making America the crypto capital of the world.”
A Stunning Reversal
The Winklevosses’ opposition marks a stunning reversal from their initial reaction to the nomination. When Quintenz was first announced as the nominee, both brothers praised the choice on social media.
Cameron Winklevoss called him “exactly the leader the CFTC needs,” while Tyler Winklevoss added it was a “Great choice for crypto and for America.”
The brothers’ change of heart may be rooted in their own company’s history with the regulator. In January, Gemini agreed to pay a $5 million settlement to the CFTC over misleading statements. The company later publicly accused the agency’s attorneys of a “selfish desire to advance their careers” by targeting them.
The Growing Influence of Crypto in DC
The incident, as detailed by Politico, is a powerful example of the direct line that major crypto executives now have to the Oval Office.
The CFTC, historically a low-profile agency, is poised to become a central player in U.S. crypto regulation under Trump’s proposed framework. This has transformed the selection of its leader from an under-the-radar pick into a high-stakes political fight.
The drama surrounding the nomination highlights a clear power struggle. While the White House has publicly reaffirmed its support for Quintenz, senior administration officials are now reportedly pushing Trump to stick with his nominee in the face of this new, high-level industry pressure.
The outcome will be a clear test of who holds the most sway in Trump’s vision for a crypto-friendly America.
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