CFTC nominee Quintenz reveals Winklevoss texts before Gemini IPO
Hours before Gemini’s planned IPO, CFTC Chair‑nominee Brian Quintenz published a July text exchange with Cameron and Tyler Winklevoss. He says the brothers sought assurances on CFTC enforcement; he declined. A Senate vote on his nomination is still pending.
Prospective CFTC Сhair Brian Quintenz published screenshots of a private text thread with Cameron and Tyler Winklevoss on Wednesday, less than 48 hours before Gemini is expected to list publicly. In his X post, Quintenz said he released the exchange out of concern that President Trump “might have been misled,” adding that the messages show what the brothers wanted from him and what he refused to promise.
The thread centers on Gemini’s dispute with the CFTC. Tyler forwards a June 13 letter to the agency’s Office of Inspector General and asks Quintenz to review it. In the texts, Tyler alleges the enforcement division “abused the deliberative process privilege” and pursued “7 years of lawfare trophy hunting.” He also questions why the commission sued Gemini in 2022 rather than other parties he names.
Quintenz replies that he will conduct a fair review if confirmed, but that outcomes should not be predetermined. He writes that any response to Gemini’s complaint should be made by – and carry the full weight of – a fully confirmed Chair, not a nominee. He asks whether the matter has been discussed with Caroline Pham; Tyler says she was copied on the OIG letter. The exchange ends with an agreement to speak by phone.
Quintenz emphasized in his X post:
I believe these texts make it clear what they were after from me, and what I refused to promise.
The timing is sensitive. In January 2025, Gemini agreed to pay $5 million to settle a CFTC civil case alleging it made false or misleading statements during a 2017 review tied to a proposed Bitcoin futures contract. In August, Rep. Dina Titus urged the commission to scrutinize Quintenz’s ties to prediction‑market venue Kalshi while his nomination advances.
Meanwhile, Gemini has upsized its initial public offering ahead of a planned Friday debut, targeting a valuation above $3 billion by selling about 16.67 million shares at $24–26, for expected proceeds of roughly $433 million per its latest filing. It’s unclear whether Quintenz’s disclosures will affect investor demand, but his nomination and the CFTC’s posture toward crypto firms will remain in focus as the listing approaches.
Gemini has not yet responded to requests for comment in the materials reviewed. A Senate Agriculture Committee vote on Quintenz’s nomination has yet to be scheduled after hearings were delayed at the White House’s request earlier in the summer.
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