Federal judge rejects joint Gemini and CFTC request to overturn $5 million crypto settlement
A federal judge rejected Gemini and the CFTC’s joint request to overturn Gemini’s $5 million settlement, ruling that the regulator’s change of position did not erase the agreement. The judge also dismissed Gemini’s claim that it was pressured into settling. The exchange has paid the fine and remains subject to a court order tied to the settlement. The CFTC sued in 2023 over alleged misrepresentations during a 2017 review of a proposed bitcoin futures contract; Gemini settled shortly before trial without admitting or denying wrongdoing. The decision underscores that changing regulatory priorities do not automatically reverse existing judgments. Gemini continues operating in the U.S. while shifting resources toward that market and prediction markets.
