Gemini Trust, Founded by Winklevoss Twins, Agrees to $5 Million Settlement and Injunction with CFTC Over Bitcoin Futures Misrepresentation

Jan 6, 2025, 05:37 PM

Gemini Trust Company, founded by the Winklevoss twins, has agreed to pay a civil penalty of $5 million to settle charges from the U.S. Commodity Futures Trading Commission (CFTC). The settlement relates to allegations that Gemini misled the derivatives regulator in its efforts to launch the first U.S.-regulated Bitcoin futures contract in 2017. The court filing indicates that the agreement includes an injunction as part of the resolution of the CFTC's claims against the company.