U.S. court rejects Gemini-CFTC request to void $5M settlement

A U.S. federal judge rejected a request by the Commodity Futures Trading Commission and crypto exchange Gemini to void a 5 million dollar settlement. The agreement, reached in January 2025, was challenged on the grounds that it violated fair law enforcement principles. Judge Alvin Hellerstein of the U.S. District Court for the Southern District of New York ruled that Gemini had voluntarily agreed to the settlement before trial and that regret after obtaining new materials was not sufficient to undo the deal. Gemini was previously sued for allegedly making false or misleading statements to the CFTC during the review of a Bitcoin futures contract in 2022, leading to the 5 million dollar fine.

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