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      Judge rejects joint motion by Gemini and CFTC to vacate $5 million settlement

      PANews, October 16 — According to Sina Finance, U.S. District Judge Alvin Hellerstein in New York has rejected a joint motion by the Commodity Futures Trading Commission (CFTC) and Gemini Trust Company. The motion sought to vacate an enforcement decision from the Biden administration that required the cryptocurrency exchange, run by the billionaire Winklevoss twins, to pay a $5 million fine.

      In May, Gemini and the U.S. Commodity Futures Trading Commission (CFTC) argued that the settlement reached in January 2025 "violates the basic principles of fair enforcement." The CFTC said an internal investigation found improper litigation tactics in the case, and that the regulator would not have brought the case under President Donald Trump, who has been more friendly toward the crypto industry than his predecessor. However, U.S. District Judge Alvin Hellerstein ruled on Thursday that "neither of these two grounds is sufficient to support vacating the settlement," adding that Gemini voluntarily signed the settlement three weeks before trial.


      Source: PANews
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