Gemini Trust, led by Cameron and Tyler Winklevoss, agreed to pay $5 million to settle a lawsuit brought by the US Commodity Futures Trading Commission over misleading statements to regulators. In a "proposed consent order" signed by the two sides on Monday, the company agreed to settle, but neither admitted nor denied the allegations in the agency's complaint.
The CFTC sued Gemini in June 2022 for making "false or misleading statements of material fact". Gemini made these statements to the CFTC between July 2017 and around December 2017, when the company was being evaluated for bitcoin futures contracts, the agency said. Gemini allegedly made these statements about whether the company's proposed bitcoin futures contracts were "vulnerable to manipulation", the agency said in 2022.
Gemini Trust agrees to pay $5 million to settle CFTC charges
2025-01-06 22:25:31
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