The Securities and Exchange Commission has withdrawn its lawsuit against Gemini, the crypto exchange founded by twins Cameron and Tyler Winklevoss.
The Winklevoss twins were donors to Donald Trump’s re-election campaign and also supported his family’s business ventures.
In a joint filing On Friday, the SEC and Gemini asked the court to dismiss the lawsuit, which focused on The collapse of the investment product Gemini EarnSome investors lost access to their money for up to 18 months.
New York Attorney General Letitia James Case filed against Mithun in 2023 And accused the company of defrauding investors. To justify dismissing the SEC’s case, the new filing points to a 2024 agreement between New York and Gemini in which investors will eventually receive “one hundred percent of the crypto assets they borrowed.” […] Through the Gemini Earn program.”
This appears to be a larger pattern of generosity from the Trump administration toward the crypto industry. The New York Times earlier reported this The SEC has either dismissed, stayed, or reduced the fine. More than 60 percent of crypto lawsuits were pending when Trump took office last year.
