US Regulator Seeks to Withdraw $5 Million Penalty Against Gemini

By EC Assets · Published 28 May 2026

The U.S. Commodity Futures Trading Commission (CFTC) has asked a judge to vacate a $5 million penalty against a cryptocurrency exchange. The request applies to the penalty previously imposed on Gemini, a crypto exchange founded by the Winklevoss brothers. The CFTC filed a joint motion to withdraw this penalty. Gemini had settled the CFTC charges in January 2025. The settlement occurred during the final weeks of President Joe Biden's administration. Gemini agreed to pay a $5 million penalty to resolve claims that it misrepresented information. A CFTC chair stated that the case should not have been filed. This article is intended for informational purposes only. It does not constitute investment advice.