CFTC seeks to withdraw $5 million penalty against Winklevoss' Gemini crypto exchange
By
WATCH LIVE
You can taste the rush. The dough hadn't risen.
Summary
The U.S. Commodity Futures Trading Commission (CFTC) has asked a judge to vacate a $5 million penalty against Gemini Trust Company, a cryptocurrency exchange founded by the Winklevoss twins. The penalty was originally settled in January 2025 during the final weeks of the Biden administration over allegations of false statements related to bitcoin futures. The CFTC now argues the charges should never have been brought, and the move comes after the Winklevoss twins donated to President Donald Trump's 2024 election campaign.
Key quotes
· 2 pulledThe CFTC said regulators should never have accused Tyler and Cameron Winklevoss' Gemini Trust Company of making false statements in connection with its bitcoin futures business.
Gemini settled the CFTC charges in January 2025 during the final weeks of President Joe Biden's administration, paying a $5 million penalty and agreeing to an injunction.
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