Winklevoss Twins’ Gemini to Pay $5 Million to End CFTC Case (2)

The Winklevoss twins’ Gemini Trust Co. cryptocurrency exchange agreed to pay $5 million to end a Commodity Futures Trading Commission lawsuit claiming it misled the derivatives regulator in a bid to launch the first US-regulated Bitcoin futures contract.

The deal was disclosed Monday in a filing signed by both parties, avoiding a trial set to begin Jan. 21, the day after Donald Trump will be inaugurated for his second term as US president. Gemini, which was founded by Cameron and Tyler Winklevoss, settled without admitting or denying liability in the case.

In 2022, the CFTC sued Gemini in Manhattan ...