CFTC Seeks to Reverse $5 Million Settlement with Gemini Trust Company

The US Commodity Futures Trading Commission (CFTC) has taken an unprecedented step by filing an amended motion to vacate a $5 million settlement with Gemini Trust Company. The agency is seeking relief from the judgment, which was reached in January 2025, citing concerns about the credibility of a whistleblower and concealed evidence.

The CFTC's move is highly unusual and may have significant implications for how the agency handles enforcement settlements in the future. If the court allows the reversal, it could lead to a reevaluation of settled cases and potentially impact the crypto industry.