In a post on X, Quintenz shared screenshots of July text exchanges in which Winklevoss pressed him to take a stronger stance on Gemini’s misconduct complaint against CFTC staff. Quintenz replied that he would review the matter “fairly and reasonably” if confirmed but stressed that any remedies should be left to a fully seated chair. Winklevoss responded with frustration, calling reform and redress a “highest priority” and urging alignment with Trump’s agenda to curb regulatory “lawfare.”

According to Quintenz, the dispute escalated when the Winklevoss twins privately raised concerns with Trump, a move he says contributed to a seven-month stall in his nomination.

A Long Legal Backdrop

The tensions trace back to the CFTC’s lawsuit against Gemini, filed in 2022, alleging the exchange misled regulators during its bid to self-certify a bitcoin futures contract in 2017. Gemini settled the case in January 2025 for $5 million without admitting wrongdoing, but later lodged a fresh complaint accusing CFTC staff of misconduct. That complaint was at the center of Winklevoss’s messages to Quintenz.

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Initially, the Gemini founders supported Quintenz’s nomination, but by late July they reversed course, criticizing his board role at prediction market Kalshi and questioning whether his policy views fit the Trump administration’s crypto agenda.

IPO Looms Over Dispute

The feud emerges just days before Gemini’s long-planned market debut. The exchange is targeting a $24–$26 share price in its Sept. 12 IPO, a move that could value the firm at about $3.1 billion.

For Quintenz, the episode raises fresh questions about whether his nomination can move forward, while for Gemini, it adds another layer of scrutiny as the company prepares to go public.

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