Because the following facts fall into the pattern documented here, I’ll add to this thread rather than start a new one like Threads - Part I, which outlined other potential alignments of influence, and an open path for possible capture of the Zcash blockchain.
Again, nothing in any of my posts has been contradicted or questioned on the basis of the facts involved.
To Reinforce the thesis…
Specifically, backing an authoritarian regime in a clear exchange of favors, aka, a quid pro quo:
A US FEC (Federal Election Commission) filing from July 20th 2026 shows Gemini Trust Company, (operating subsidary of the holding company with controlling equity in the Winklevoss cryptocurrency exchange Gemini), greatly expanded the twins’ donations to the authoritarian USA election fund MAGA Inc. PAC (political action committee), with $10 Million in bitcoin. This came less than two months after the CFTC (Commodity Futures Trading Commission) filed papers jointly with the exchange to reverse the enforcement action outlined in a settlement, including a fine of $5 million against Gemini.
The CFTC regulates US derivatives markets, and greatly reduced regulatory enforcement against cryptocurrency companies (and prediction markets) during the second Trump term. Generally, it is led by four commissioners and one chairman, appointed by the US President and confirmed by the US Senate. Now, however, there is a deviation from its statutory five-member structure: there is only one member, Chairman Michael Selig, confirmed on in December 2025.*
As sole commissioner and Chairman, Selig has a powerful role in an agency now charged with all derivatives, crypto, and the exploding prediction markets. He also has a professional background working for clients in the same sector (besides The Blockchain Association, there was Proof of Stake Alliance, Coinlist, Alluvial Finance, Berachain, Deribit, Architect Financial Technologies, and more), many of which fall into the regulatory domain of the CFTC.
To underline the context in which the recent settlement reversal and subsequent funding of MAGA Inc. was made, we could look to September 2025 when Brian Quintenz, a former a16z crypto officer, and Trump’s then-nominee for CFTC Chair leaked private messages from Tyler Winklevoss one day before Gemini’s stock IPO. Tyler’s messages were protesting the agency’s handling of the case, promoting alignment with Trump, stressing CFTC cultural reform as a top priority (making amends to Gemini was used as an example), and offering a back-channel to the president to discuss eliminating obstacles. In the messages Quintenz committed to a “fair and reasonable review” of the matter if he was confirmed as Chairman, and noted that any attempts to influence their consideration might be questionable.
When Quintenz leaked, they said that they were worried Trump might be being misled: “I believe these texts make it clear what they were after from me, and what I refused to promise. It’s my understanding that after this exchange they contacted the President and asked that my confirmation be paused for reasons other than what is reflected in these texts.”†
Trump withdrew the Quintenz nomination less than 3 weeks later, and nominated Selig.**
In an early June 2026 interview, Selig said that Gemini was politically targeted, “the Biden administration weaponized … agencies against the crypto industry,” and called for the CFTC to be non-political. Directly asked if the agency had become politicized in another way, Selig said “We’re focused on the agency of the future.”
I do not put much stock in governments or their agencies… but maybe @paulbrigner would be interested in adding this topic to the agenda at their ‘cypherpunk’ policy dinner in DC in October?
Is the future just based on bribes?
Is the Zcash project now committed to this current USA administration and its forces, as a matter of survival? What should I infer from @joshs message in the ZCG grant application thread about this policy dinner? I think this is still the closest to a comment anyone from ZODL has offered about the pattern of funding alignments in the Zcash development organizations, beyond the initial hype announcement.
What kind of forces are now at work, in or near the heart of Zcash development?
I wonder what kind of text messages some of the personalities involved in Zcash have seen.
*Among the other four vacated seats since May 2025 was Summer Mersinger, who resigned to become CEO of the Blockchain Association, a 501c6 (eg, a business league, or a chamber of commerce) registered in Washington, DC, which works to “educate policymakers about blockchain technology and its ability to pave the way for a more secure, competitive, and consumer-friendly digital marketplace.” They offer “representation before Congress and key regulators” and “lobby days” for members. The ECC (now ZODL) and very large number of other crypto companies are listed as members. Selig also counted he Blockchain Association as a client.
† Maybe… avoiding the possibility of a inverted-Gensler?
**Quintenz went on to work as senior advisor for Coalition for Prediction Markets, and sits on (prediction market project) Kalshi’s board.