Huo Xing Cai Jing reports that on May 25, according to an investigation by The New York Times, CFTC career officials were removed after raising concerns about Polymarket, Crypto.com, and Gemini Titan, an affiliate of Gemini—all of which have business ties to the Trump family. The report states that then-CFTC Acting Chair Caroline Pham and Senior Legal Counsel Brigitte Weyls intervened to help these three companies secure approval or avoid scrutiny; both 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, Polymarket lacked adequate fraud protections, and Gemini Titan had not completed required regulatory reviews for launch. Additionally, during the second Trump administration, the CFTC has dropped at least five cryptocurrency investigations and announced only two cases involving digital assets—both targeting individual operators; in contrast, over 80 such cases were brought during the Biden administration.
CFTC officials allegedly removed for questioning crypto firms linked to Trump
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Summary
A May 25, 2026, New York Times report revealed that CFTC officials were allegedly removed for questioning crypto firms linked to the Trump family, including Polymarket, Crypto.com, and Gemini Titan. The CFT (Countering the Financing of Terrorism) framework was reportedly bypassed, as former CFTC Acting Chair Caroline Pham and Senior Legal Counsel Brigitte Weyls allegedly assisted these companies. Concerns included unfair treatment of small investors, inadequate fraud prevention, and incomplete regulatory reviews. During the second Trump administration, the CFTC dropped at least five crypto investigations and filed only two cases—both against individuals—compared to over 80 under Biden. The impact on liquidity and crypto markets remains unclear.
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