CFTC staff dismissed after questioning crypto firms linked to Trump
Odaily Odaily reports that some career officials at the U.S. Commodity Futures Trading Commission (CFTC) were dismissed after raising compliance concerns about Polymarket, Crypto.com, and Gemini Titan, all of which are reportedly commercially connected to the Trump family.
According to reports, then-acting CFTC Chairman Caroline Pham and senior legal counsel Brigitte Weyls intervened in the relevant review process, helping these companies obtain approvals or avoid further investigation. The two subsequently joined MoonPay and Gemini Titan, respectively.
It is understood that the officials had previously expressed concerns that Crypto.com did not treat small retail investors fairly, that Polymarket's anti-fraud mechanisms were insufficient, and that Gemini Titan had not completed the reviews necessary for commencement of operations.
Additionally, the report noted that during Trump's second term, the CFTC has dropped at least five crypto investigations, with only two enforcement actions involving digital assets being made public so far, both targeting individual operators. In contrast, there were over 80 such cases during the Biden administration. (New York Times)
