Gemini Trust is pushing to reverse a major Biden-era crypto settlement, a move that could add fresh momentum to the regulatory reset now taking shape under President Donald Trump. The US Commodity Futures Trading Commission and Gemini, the crypto exchange led by billionaire twins Tyler and Cameron Winklevoss, asked a federal judge in New York to vacate a January 2025 order that forced the firm to pay $5 million and accept a permanent injunction and other relief. The original case centered on CFTC allegations that Gemini made false and misleading statements about how it would prevent manipulation in Bitcoin (BTC-USD) prices used as a reference point for cryptocurrency derivatives.

The shift matters because it fits into a broader rollback…