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CFTC Employee Dismissed for Questioning Trump-Linked Crypto Companies

AirdropBlackHole
On May 25, The New York Times reported that a CFTC career official was dismissed for raising concerns about Polymarket, Cryptocom, and the Gemini-affiliated company Gemini Titan, all of which have business ties to the Trump family. The report indicated that then-CFTC Acting Chair Caroline Pham and Senior Legal Advisor Brigitte Weyls intervened to help the three companies gain approval or avoid scrutiny; both later joined MoonPay and Gemini Titan, respectively. The concerned officials had previously expressed worries that Cryptocom was not treating small retail investors fairly, that Polymarket had inadequate fraud protections, and that Gemini Titan had not completed the necessary reviews to commence operations. Additionally, during the second Trump administration, the CFTC withdrew at least five cryptocurrency investigations and announced only two cases involving digital assets, both targeting individual operators; in contrast, over 80 related cases were initiated during the Biden administration.
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