CFTC Chair Michael Selig claimed that the Biden administration “weaponized” federal agencies against companies like Gemini, whose co-founders donated $1 million each to Donald Trump’s 2024 campaign.

Last September, Brian Quintenz said the Winklevoss twins lobbied to kill his CFTC confirmation.

CFTC chair Michael Selig said the agency's enforcement action against Gemini was part of a broader campaign against the crypto industry under President Biden.