0
0
News

Winklevoss Twins Settle With CFTC

The crypto exchange agrees to $5 million fine, injunction over CFTC charges.
0
0
Jan 6, 2025 • 1 min read

Gemini, the crypto exchange founded by the Winklevoss twins, has agreed to pay a $5M fine to settle allegations from the Commodity Futures Trading Commission.

What's the Scoop?

  • Allegations Against Gemini: The CFTC suit against Gemini is for "making material false or misleading statements" in order to help with the approval of their Bitcoin futures product.
  • Avoiding Trial: The settlement helps Gemini by avoiding a trial that was set to begin on January 21.

Bankless Take

Gemini’s settlement with the CFTC marks the conclusion of yet another regulator squabble with the Biden era commission. With a number of pro-crypto candidates rumored to take over the commission under Trump, settlements like this could soon be minimized or swept over.

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

Published in Bankless

There’s a revolution in the world of money. Ethereum, Bitcoin, crypto, open finance, DeFi—a bankless revolution. And you want part of it.

Are you sure you want
to log out?
You'll lose access to your Bankless account until you log back in again. Oh and also, we'll miss you too much! 😢
Cancel
Continue
Account Light mode Log Out