Amanda Fischer, former Chief of Staff to the Chair of the Securities and Exchange Commission (SEC), criticized President Trump’s U.S. Commodity Futures Trading Commission Chairman Michael Selig for moving to exhume a past CFTC settlement with Gemini cryptocurrency exchange, which was approved in 2025.
[NOTE: The CFTC complaint against Gemini, which was originally filed in June 2022, accused Gemini of “making false or misleading statements of material facts or omitting to state material facts to the CFTC in connection with the self-certification of a bitcoin futures product” in 2017, during the first Trump administration.]
Fischer replied to the new CFTC announcement — which said the complaint against Gemini “should not have been filed” and that Gemini is “a fraud victim” by writing:
“This is massive, scandalous news. Just days after @nytimes investigation on CFTC corruption, the Chair moves to exhume a past settlement w/the Winklevoss twins’ exchange, move to toss it out, & discredit the career civil servants whose case was approved by past CFTC leadership.”
This is massive, scandalous news
Just days after @nytimes investigation on CFTC corruption, the Chair moves to exhume a past settlement w/the Winkelvoss twins’ exchange, move to toss it out, & discredit the career civil servants whose case was approved by past CFTC leadership https://t.co/iwzcjemsYc
— Amanda Fischer (@amandalfischer) May 28, 2026
The founders of Gemini are Trump donors Cameron Winklevoss and Tyler Winklevoss, the twin brothers who sued Mark Zuckerberg in 2004 claiming their Harvard classmate stole their social networking idea, which became Facebook.
When Trump returned to office in 2025, the Winklevoss brothers reportedly donated approximately $500,000 each to MAGA Inc., and in October, they were named as donors to Trump’s White House ballroom project.
[NOTE: Prior to running the CFTC, Selig was a partner at an international law firm, where he “represented a broad range of clients subject to regulation by the CFTC, including commercial end users, futures commission merchants, commodity trading advisors, swap dealers, designated contract markets, derivatives clearing organizations, and digital asset firms.”]
Below is an interview with Selig, who told Bitcoin News that “the U.S. is the crypto capital of the world,” and added, “We’ve ended regulation by enforcement. We’ve ended debanking.”
“We’ve ended regulation by enforcement. We’ve ended debanking.”@CFTC Chairman @MichaelSelig breaks down why the U.S. is the crypto capital of the world and what it means for Bitcoin, regulation, and markets.
Watch now
@_dsencil at @TheBitcoinConf, Las Vegas 2026. pic.twitter.com/3BQLD7VJ7y
— Bitcoin.com News (@BitcoinNews) May 20, 2026
[NOTE: Amanda Fischer, who resigned from the SEC days before President Trump returned to the White House in 2025, is currently the Policy Director and Chief Operating Officer (COO) for Better Markets, “a non-profit, non-partisan, and independent organization founded to promote the public interest in the financial markets, support the financial reform of Wall Street and make our financial system work for all Americans again.”]