The US Securities and Exchange Commission dismissed its lawsuit against the Winklevoss twins’ crypto exchange after investors recovered all assets. The case ended following full repayments to Gemini Earn users through the Genesis Global Capital bankruptcy process in mid-2024. The decision reflects a friendlier crypto approach under President Donald Trump, who pledged support for digital assets. Regulators filed a joint dismissal with the exchange, now called Gemini Space Station, in Manhattan federal court. The SEC stressed the move does not affect other enforcement actions. Earlier charges accused Gemini and Genesis of illegally selling securities through a lending program worth $940m. New York authorities later secured a $50m settlement and banned Gemini lending programs in the state. Gemini later debuted strongly on Nasdaq and is valued at $1.14bn, according to LSEG.
SEC Drops Case Against Winklevoss Twins’ Crypto Exchange
Andrew Rogers
Andrew Rogers is a freelance journalist based in Chicago, USA, with over 10 years of experience covering Politics, World Affairs, Business, Health, Technology, Finance, Lifestyle, and Culture. He graduated with a degree in Journalism from the University of Florida. Over the years, he has contributed to leading outlets such as The New York Times, CNN, and Reuters. Recognized for his sharp reporting and thoughtful analysis, Andrew delivers accurate and timely news that keeps readers updated on key national and global developments.
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