The Securities and Exchange Commission has dropped its case against Gemini, the crypto exchange founded by twins Cameron and Tyler Winkleves.
The Winkleves twins were donors to Donald Trump’s re-election campaign and supported his family’s business ventures.
In A joint filing On Friday, the SEC and Gemini asked the court to dismiss the case, which was centered The collapse of an investment product called Gemini EarnSome investors lose access to their money for 18 months.
New York Attorney General Leticia James Gemini sues in 2023 and accused the company of defrauding investors. To justify the SEC’s dismissal of the lawsuit, the new filing points to a 2024 settlement between New York and Gemini, with investors eventually receiving “one hundred percent of the crypto assets they loaned.” […] Through the Gemini Earn Program.”
This appears to be a larger pattern of leniency on the part of the Trump administration towards the crypto industry. The New York Times reported this information earlier The SEC either dismissed, stayed, or reduced the penalty More than 60 percent of crypto cases were pending when Trump took office last year.
