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CFTC chair alleges Gemini crypto exchange was politically targeted

CFTC chair alleges Gemini crypto exchange was politically targeted

Watch CNBC's full interview with CFTC Chairman Michael Selig

The chairman of the Commodity Futures Trading Commission said it’s correcting a flawed enforcement action against Gemini Space Station, the crypto exchange run by the Winklevoss brothers, alleging caught up in a broader campaign against the crypto industry under the Biden administration.

“The Biden administration weaponized the federal agencies against the crypto industry and many other industries,” Michael Selig said Tuesday in a CNBC “Squawk Box” interview. “They politically targeted people like the Winklevoss twins, and that’s not acceptable. We’re righting those wrongs. We’re going to start fresh. The agency should not be used to engage in lawfare.”

“I’m not going to get into the facts, because this is an active [litigation] … What…

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