Is the CFTC allegedly acting as protection for Trump’s crypto companies? The New York Times: Officials who raised objections were suspended and subjected to internal investigations

The New York Times accuses senior officials of the U.S. Commodity Futures Trading Commission of allegedly assisting crypto companies friendly to the Trump family in removing regulatory hurdles, and plans to suspend and investigate officials who raised objections.

The New York Times reveals suspected internal interference within the CFTC

Recently, The New York Times published an investigative report accusing senior officials of the U.S. Commodity Futures Trading Commission (CFTC) of allegedly helping crypto companies closely related to the Trump family to eliminate regulatory obstacles, while suspending, investigating, or even forcing out internal officials who raised objections.

The report points out that Polymarket, Crypto.com, and Gemini’s Gemini Titan are at the core of this controversy. These companies all have business or investment ties to the Trump family and require CFTC approval for their prediction market operations.

According to over 30 current and former officials, some career officials have raised concerns about these companies, including Polymarket’s lack of sufficient anti-fraud mechanisms, Crypto.com’s inadequate protection for small bettors, and Gemini Titan’s incomplete regulatory review process.

The New York Times states that Acting Chair Caroline Pham and Senior Legal Advisor Brigitte Weyls were involved in multiple review processes, assisting these companies in obtaining regulatory approval.

Officials who raised concerns have been suspended and subjected to internal investigations

The report mentions that by the end of 2025, at least two officials who raised concerns about these cases were administratively suspended and barred from entering their offices, while also undergoing internal investigations. Additionally, three senior officials responsible for crypto enforcement cases faced similar situations. Several affected officials said the agency never clearly explained the reasons for the investigations.

Some current and former employees told The New York Times that the entire incident sent a clear internal message: not to hinder the development of industries related to cryptocurrencies and prediction markets.

The report also notes that Brigitte Weyls had proactively sent draft approval documents for Gemini Titan to staff before internal reviews were completed. This was markedly different from the usual process where grassroots review teams first complete assessments and then submit to the committee for decision.

Gemini Titan ultimately received swift approval. Several months later, Brigitte Weyls even joined Gemini Titan as Chief Legal Officer, raising questions about conflicts of interest.

The Trump family’s ties to crypto companies become a focal point

The New York Times points out that there are multiple direct links between these companies and the Trump family.

Polymarket received investment from 1789 Capital, a venture capital firm involved with Donald Trump Jr. Crypto.com partnered with Trump Media & Technology Group to launch the “Truth Predict” prediction market service on the Truth Social platform.

Meanwhile, Gemini founders Cameron and Tyler Winklevoss are supporters of American Bitcoin, which was co-founded by Eric Trump.

After the report was published, White House spokesperson Davis Ingle stated that all decisions made by the Trump administration prioritize the interests of the American public and that there are no conflicts of interest.

Currently, Polymarket, Crypto.com, and Gemini have not issued comprehensive responses to the report. However, Polymarket claimed that the company has robust market security mechanisms, and Crypto.com emphasized full compliance with federal regulations.

Concerns over reduced crypto enforcement by the CFTC

The New York Times notes that during Trump’s second term, the CFTC’s enforcement efforts in the crypto industry significantly declined. The report states that during the Biden administration, the CFTC initiated over 80 enforcement actions related to digital assets; during Trump’s second term so far, only two cases have been filed, both involving individual operators rather than large crypto firms.

Additionally, the CFTC has withdrawn at least five crypto investigation cases, including one large exchange investigation in its late stages.

Currently, CFTC Chair Michael Selig is also a focus of attention. Since Trump has not nominated new commissioners, only Michael Selig remains as an official commissioner, giving him almost sole authority over regulation and enforcement directions.

This incident has also begun to influence U.S. Congress’s discussions on crypto legislation. Some Democratic lawmakers believe that before internal disputes within the CFTC are resolved, Congress should not rush to push major crypto market reform bills like the CLARITY Act.

This content is compiled by Crypto Agent from various sources, reviewed and edited by Crypto City. It is still in training, and may contain logical biases or factual errors. The content is for informational purposes only and should not be considered investment advice.