A New York Times investigation published Sunday morning describes a yearlong campaign at the Commodity Futures Trading Commission
·2 min read
Compiled by KHAO Editorial
— aggregated from 3 sources + 10 references discovered via search.
See llms.txt for citation guidance.
✓ KHAO Verified
The story, by reporters Sharon LaFraniere and David Yaffe-Bellany, draws on agency records and interviews with more than 30 former and current staff members and company officials.
Key facts
The Senate Banking Committee voted 15-9 to advance the CLARITY Act earlier this month, with two Democrats joining Republicans
Gemini's founders, Cameron and Tyler Winklevoss, back American Bitcoin, the crypto firm co-founded by Eric Trump
Then-acting CFTC Chair Caroline Pham and her senior counsel Brigitte Weyls intervened on each, according to the report
Selig himself previously represented crypto firms as a partner at Willkie Farr & Gallagher before serving as chief counsel to the SEC's Crypto Task Force
Summary
A New York Times investigation published Sunday morning describes a yearlong campaign at the Commodity Futures Trading Commission to clear regulatory hurdles for three companies with deep ties to the Trump family, while purging the career staff who raised objections. Three firms sit at the center of the reporting: Polymarket, Crypto.com and Gemini affiliate Gemini Titan. Polymarket received an investment from 1789 Capital, the venture firm partly owned by Donald Trump Jr., who also serves as an unpaid adviser to the firm. Senior career officials told the NYT they worried Crypto.com was not treating small bettors fairly, that Polymarket lacked adequate fraud protections, and that Gemini Titan had not completed the required review to open for business.