SEC, Winklevoss’ Gemini to Resolve Crypto Lending Lawsuit

The US Securities and Exchange Commission and Gemini Trust Co. are close to resolving the agency’s lawsuit claiming the firm illegally raised billions of dollars through an unregistered lending crypto program, attorneys said in a court filing.

“The parties in this case have reached a resolution in principle that would completely resolve this litigation, subject to review and approval by the Commission,” SEC and Gemini attorneys said Monday in a filing in New York.

The SEC sued crypto exchange Gemini and now-bankrupt Genesis Global Capital in 2023, alleging the firms violated investor protection laws by raising billions of dollars from ...