Winklevoss Twins Strike Deal to End SEC’s $900M Crypto Case
The
Securities and Exchange Commission (SEC) and Gemini Trust have reached an
agreement to resolve a lawsuit over the cryptocurrency exchange’s Gemini Earn
lending program that froze $900 million in customer funds.
Attorneys
for both parties told a Manhattan federal court yesterday (Monday) they struck
a “resolution in principle” that would completely settle the case,
pending final commission approval. The deal would close the books on a dispute that
began with SEC charges in January 2023.
The
regulator accused Gemini, founded by billionaire twins Tyler and Cameron
Winklevoss, and its partner Genesis Global Capital of raising billions from
hundreds of thousands of customers through an unregistered securities offering.
The Gemini Earn…
