SEC to Dismiss Winklevoss’ Gemini Crypto Lending Lawsuit
The US Securities and Exchange Commission will drop the agency’s 2023 lawsuit against Gemini Trust Co. that accused the firm of illegally raising billions of dollars through an unregistered crypto lending program.
Attorneys for the firm and the SEC asked a federal judge in New York to dismiss the case, according to a filing Friday. The agency said its decision was based on the company reaching a settlement with the New York State Department of Financial Services and customers getting back 100% of their crypto assets. As in other cases, the SEC also said the dismissal was “in the exercise of its discretion.”
