News about Gemini

U.S. District Judge Alvin Hellerstein of the Southern District of New York denied a joint motion by Gemini and the CFTC to vacate the $5 million settlement the exchange agreed to in January 2025. In his October 15 ruling, he found that the CFTC's shift in enforcement priorities and alleged misconduct within its enforcement division were not sufficient grounds to reopen a signed consent order. The permanent injunction barring Gemini from making false or misleading statements to the CFTC remains in place, and the $5 million penalty, already paid, will not be refunded. The case is rare because a court held firm while the regulator retreated from its own case, leaving Gemini under a compliance overhang as the CFTC takes a softer stance toward crypto.