Trump Family Crypto Ties Put a Federal Agency Under Pressure

The New York Times investigation reveals that Trump family crypto firms received regulatory approvals while federal officials raising concerns reportedly faced serious consequences.

A major investigation by the New York Times dropped on Sunday. It showed something very disturbing in a federal agency. Three crypto companies are the subject of concern by career officials at the Commodity Futures Trading Commission, or CFTC. In particular, all three were connected with the Trump family. As a result, those officials were pushed out of their jobs.

The three firms at the center of the story are Polymarket, Crypto.com, and a Gemini affiliate called Gemini Titan. All of them required CFTC approval of their prediction market plans. Both have direct ties to the Trump family as well.

Crypto.com is a business partner of Trump Media, meanwhile. Polymarket was an investment made by Donald Trump Jr. in his venture firm. Moreover, the founders of Gemini also support American Bitcoin, which was co-founded by Eric Trump.

Officials Raised Red Flags and Paid the Price

The CFTC’s career staff did not remain silent. Rather, they voiced concerns regarding serious issues. There were no sufficient fraud protections in place at Polymarket, according to records. Crypto.com failed to be fair to small bettors. Furthermore, the Gemini affiliate started operating before finishing a required regulatory review.

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But bringing up those concerns had serious repercussions. By the end of 2025, two officials were placed on administrative leave due to their questions. Three other employees who are connected to crypto enforcement were also subjected to the same treatment. That is, they lost their jobs for speaking out.

Moreover, then-acting Chair Caroline Pham and senior counsel Brigitte Weyls intervened to help the three firms win approvals. This was done in spite of opposition from career staff. Both women then left the agency. Pham has signed with crypto firm MoonPay, which had already been linked to Polymarket. Weyls joined Gemini Titan, the same firm that she had assisted in approving, as general counsel.

Crypto Enforcement Has Dropped Sharply Under Trump

In addition to the firings, the investigation uncovered a dramatic pullback in enforcement. Under the current administration, the CFTC has closed at least five active investigations of cryptocurrencies. The agency announced just two crypto enforcement cases, both against individual operators. That is a striking drop. Under the Biden administration, the agency filed more than 80 crypto enforcement cases.

Additionally, the investigation touched on other controversial matters. One of the most well-known crypto billionaires, Justin Sun, launched a fraud suit against World Liberty Financial. He claimed the Trump family start-up was a scheme to freeze more than $70 million worth of his tokens. World Liberty Financial responded with a defamation suit.

In addition, investigative reports had previously uncovered a suspicious timeline of the UAE. A company in Abu Dhabi, backed by the government, invested $2 billion in World Liberty Financial. The UAE is set to receive a large shipment of high-tech AI microchips from the Trump administration within weeks.

In conclusion, the New York Times investigation raises serious questions about conflicts of interest. Federal watchdogs seem to have been muted for doing their duty. This has put public confidence in crypto regulation at risk.

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