CFTC Seeks to Undo Gemini Settlement Over $5 Million Payment

The US Commodity Futures Trading Commission (CFTC) has taken steps to undo a settlement reached with Gemini Trust Co., a cryptocurrency exchange led by billionaire Winklevoss brothers Tyler and Cameron. The filing, made late Wednesday, seeks to dissolve the agreement that resulted in Gemini paying $5 million to end an agency lawsuit.

In January 2025, the CFTC and Gemini agreed to a settlement that included a permanent injunction, civil monetary penalty, and other relief. However, the regulator has now changed its stance, with lawyers for both parties asking a federal judge in New York to vacate the order. The move could potentially lead to further legal action or changes to the existing agreement.