Gemini · Donald Trump · New York · White House · CoinDesk
U.S. CFTC files request to erase Gemini settlement that it no longer considers fair
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The U.S. Commodity Futures Trading Commission wants to tear up the remnants of an old dispute with crypto exchange Gemini, with the agency insisting that its own staff's assertions about Gemini making misleading statements weren't handled properly.
Key facts
- In January of 2025, Gemini agreed to resolve an enforcement action with a $5 million fine and other requirements, settling a matter that began in 2017
- The president's pro-crypto agenda was on display Wednesday in a posting on his social media platform, Truth Social, where he said, "The new Frontier of Finance is being Built in America, and 'TRUMP
- Trump has also sought to champion the industry, including specifically welcoming Gemini's founders, the Winklevoss brothers, to White House events
- The U.S. Commodity Futures Trading Commission wants to tear up the remnants of an old dispute with crypto exchange Gemini, with the agency insisting that its own staff's assertions about Gemini
Summary
The U.S. The CFTC filed a request alongside Gemini in federal court to negate a settlement secured at the start of last year, with the current agency disputing the conclusions of the previous agency. In January of 2025, Gemini agreed to resolve an enforcement action with a $5 million fine and other requirements, settling a matter that began in 2017. District Court for the Southern District of New York grants the request to cancel the settlement and toss the case, the remainder of Gemini's requirements under the agreement will be nullified, including its injunction preventing the company from making false or misleading statements to the commission in the future.