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      U.S. Court Upholds $5 Million Settlement Between Gemini and CFTC

      On October 15, 2026, U.S. District Judge Alvin Hellerstein rejected a motion to revoke a $5 million settlement agreement between the cryptocurrency exchange Gemini and the Commodity Futures Trading Commission (CFTC). The court's decision means that the fines imposed and the permanent injunctions against Gemini will remain in effect.

      The legal dispute originated from a lawsuit filed by the CFTC in June 2022, which accused Gemini of misleading regulators about its trading safeguards and customer financing related to proposed Bitcoin futures contracts. The case was settled in January 2025, with Gemini neither admitting nor denying the allegations.

      In May 2026, following an internal review, the CFTC and Gemini jointly sought to revoke the settlement, citing concerns over whistleblower credibility and evidence. However, Judge Hellerstein determined that the circumstances leading to the settlement were already established, and the shift in enforcement focus did not warrant revoking the court's binding order. The CFTC retains its enforcement discretion in this matter.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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