🚨 SEC Drops Lawsuit Against Gemini 🚀
Winklevoss Twins Score Major Win in Crypto Battle
- The U.S. SEC dismissed its lawsuit against Gemini, the crypto exchange founded by Cameron & Tyler Winklevoss.
- The case centered on Gemini Earn, which regulators claimed was an unregistered securities offering.
- After nearly three years of litigation, the dismissal was filed with prejudice — meaning the SEC cannot refile the same claims.
💰 Investor Impact
- Following the 2022 crypto crash, $940M in customer assets were frozen.
- By mid-2024, investors received 100% of their funds back through settlements and bankruptcy proceedings.
- Genesis (Gemini’s partner) paid $21M to the SEC, while Gemini settled separately with New York regulators.
🌍 Why It Matters
- Regulatory Shift: Seen as a sign of softer U.S. crypto enforcement under the Trump administration.
- Market Confidence: Rare case of full restitution boosts trust in crypto platforms.
- Political Angle: Winklevoss twins’ ties to Trump’s business ventures raise questions about influence.
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