CFTC wants to reverse course on penalty against Winklevoss twins' crypto business
The Commodity Futures Trading Commission (CFTC) has requested a judge to overturn a $5 million penalty against Gemini, the cryptocurrency exchange founded by the Winklevoss twins. This move follows Gemini's payment of the fine in January 2025, which was levied due to alleged false or misleading statements about its bitcoin operations. The CFTC's request, filed jointly with Gemini, carries symbolic weight as the penalties will not be returned, but it signals a potential shift in regulatory approach under the new administration. AI
