Share
Share this article
Copy linkX (Twitter)LinkedInFacebookEmail
Policy
Share
Share this article
Copy linkX (Twitter)LinkedInFacebookEmail
SEC dismisses lawsuit against billionaire Win
Policy
Share
Share this article
Copy linkX (Twitter)LinkedInFacebookEmail
SEC dismisses lawsuit against billionaire Win
SEC dismisses lawsuit against billionaire Winklevoss twins-backed Gemini over Earn product
SEC dismisses lawsuit against billionaire Winklevoss twins-backed Gemini over Earn product
The SEC said Gemini Earn customers had already received 100% of their assets back through Genesis' bankruptcy, warranting the dismissal of the case.
By Nikhilesh De|Edited by Aoyon Ashraf
Updated Jan 23, 2026, 10:27 p.m. Published Jan 23, 2026, 10:21 p.m.
Make us preferred on Google
Gemini co-founders Cameron and Tyler Winklevoss (Jesse Hamilton/CoinDesk)
What to know:
- The SEC said in a court filing Friday it would dismiss a lawsuit filed against Gemini over its defunct Earn product.
- The suit was no longer warranted after Gemini Earn investors received 100% of their assets back, the filing said.
The U.S. Securities and Exchange Commission (SEC) agreed to dismiss a lawsuit against crypto exchange Gemini on Friday, tied to the company's defunct Earn product, saying the suit was no longer warranted.
The SEC sued Gemini and Genesis Global Capital in 2023, alleging the companies had sold unregistered securities in the form of Gemini's yield-bearing Earn product. Investors had entrusted their funds to Gemini, which had loaned them to Genesis, which halted withdrawals after the 2022 FTX collapse and the broader crypto market downturn, the SEC said in its lawsuit.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the State of Crypto Newsletter today. See all newsletters
Sign me up
The SEC halted the lawsuit in April of last year, after Acting Chairman Mark Uyeda had taken over the regulatory agency.
In a court filing Friday, the SEC and Gemini agreed to a joint stipulation — meaning agreement — finding that Gemini had already repaid its investors 100% of their funds through Genesis' bankruptcy process. A federal judge still needs to sign off on the move.
"The 100 percent in-kind return of Gemini Earn investors' crypto assets through the Genesis Bankruptcy and the settlements noted above, and in the exercise of its discretion, the Commission believes the dismissal of the claims against Defendant is appropriate," the filing said.
The lawsuit had previously survived a motion to dismiss, after a federal judge ruled that the agency had "plausibly allege[d]" that there were securities law violations.
Friday's filing noted that Genesis had already settled with the SEC, agreeing to pay a $21 million fine, and Gemini had settled with New York state regulators.
The case joins more than a dozen other lawsuits the SEC has dropped over the last year, most of which were filed during the presidency of former President Joe Biden and under the watch of former SEC Chair Gary Gensler.
Current SEC Chair Paul Atkins said last November that the regulator would publish new guidelines for crypto companies to use in determining whether their products are securities. The same question is at the heart of ongoing debates around legislation before the Senate, which is working on bills that aim to clearly lay out how the SEC can oversee crypto markets.
SECGenesisGemini
More For You
KuCoin Hits Record Market Share as 2025 Volumes Outpace Crypto Market
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
View Full Report
More For You
Senate Agriculture's crypto market structure draft peppered with Democrat pitches
The latest draft of the major crypto legislation has begun to be targeted with amendments as the Senate Agriculture Committee approaches its hearing next week.
What to know:
- Proposed amendments to the Senate Agriculture Committee's crypto market structure bill have been posted, and the Democrats filing the pitches are seeking to push a number of the points they've sought over months of negotiation.
- Democrat amendments include proposals for banning senior government officials from profiting off of crypto interests and a demand for filling the Commodity Futures Trading Commission before new rules can be put in place.
- The committee's markup hearing for the bill is currently scheduled for next week, though a winter storm threatens the U.S. capital.
Read full story
Latest Crypto News
Senate Agriculture's crypto market structure draft peppered with Democrat pitches
FBI arrests ex-Olympian drug 'kingpin' who allegedly used crypto to move proceeds
Stablecoins moved $35 trillion last year but only 1% of it was for 'real world' payments
U.S. Senator Warren rebuffed on delay of World Liberty bank charter over Trump ties
Kevin O'Leary says power is now more valuable than bitcoin
U.K. FCA moves closer to crypto regulation with final consumer duty consultation
Top Stories
Binance plans to bring back tokenized stock trading after 2021 retreat
A hacker’s $23 million ‘flex’ backfires after sleuth traces funds to a massive U.S. government seizure
Crypto custodian BitGo down 12%, falling well below IPO price on second trading day
Buying ether and Bitmine Immersion ahead of weekend a good bet: Standard Chartered
Binance’s Changpeng Zhao says bitcoin will ‘break’ the four-year cycle this year
Latest Crypto News
Senate Agriculture's crypto market structure draft peppered with Democrat pitches
FBI arrests ex-Olympian drug 'kingpin' who allegedly used crypto to move proceeds
Stablecoins moved $35 trillion last year but only 1% of it was for 'real world' payments
U.S. Senator Warren rebuffed on delay of World Liberty bank charter over Trump ties
Kevin O'Leary says power is now more valuable than bitcoin
U.K. FCA moves closer to crypto regulation with final consumer duty consultation
Top Stories
Binance plans to bring back tokenized stock trading after 2021 retreat
A hacker’s $23 million ‘flex’ backfires after sleuth traces funds to a massive U.S. government seizure
Crypto custodian BitGo down 12%, falling well below IPO price on second trading day
Buying ether and Bitmine Immersion ahead of weekend a good bet: Standard Chartered
Binance’s Changpeng Zhao says bitcoin will ‘break’ the four-year cycle this year
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
You May Also Like
This world-class blunder has even Trump's kingmaker anguished
Before he TACO’d at Davos, Donald Trump’s vow to take Greenland by hook or crook because he didn’t win the Nobel Peace Prize was next level insanity prancing on
Share
Rawstory2026/01/24 18:30
Gold continues to hit new highs. How to invest in gold in the crypto market?
As Bitcoin encounters a "value winter", real-world gold is recasting the iron curtain of value on the blockchain.
Share
PANews2025/04/14 17:12
EUR/CHF slides as Euro struggles post-inflation data
The post EUR/CHF slides as Euro struggles post-inflation data appeared on BitcoinEthereumNews.com. EUR/CHF weakens for a second straight session as the euro struggles to recover post-Eurozone inflation data. Eurozone core inflation steady at 2.3%, headline CPI eases to 2.0% in August. SNB maintains a flexible policy outlook ahead of its September 25 decision, with no immediate need for easing. The Euro (EUR) trades under pressure against the Swiss Franc (CHF) on Wednesday, with EUR/CHF extending losses for the second straight session as the common currency struggles to gain traction following Eurozone inflation data. At the time of writing, the cross is trading around 0.9320 during the American session. The latest inflation data from Eurostat showed that Eurozone price growth remained broadly stable in August, reinforcing the European Central Bank’s (ECB) cautious stance on monetary policy. The Core Harmonized Index of Consumer Prices (HICP), which excludes volatile items such as food and energy, rose 2.3% YoY, in line with both forecasts and the previous month’s reading. On a monthly basis, core inflation increased by 0.3%, unchanged from July, highlighting persistent underlying price pressures in the bloc. Meanwhile, headline inflation eased to 2.0% YoY in August, down from 2.1% in July and slightly below expectations. On a monthly basis, prices rose just 0.1%, missing forecasts for a 0.2% increase and decelerating from July’s 0.2% rise. The inflation release follows last week’s ECB policy decision, where the central bank kept all three key interest rates unchanged and signaled that policy is likely at its terminal level. While officials acknowledged progress in bringing inflation down, they reiterated a cautious, data-dependent approach going forward, emphasizing the need to maintain restrictive conditions for an extended period to ensure price stability. On the Swiss side, disinflation appears to be deepening. The Producer and Import Price Index dropped 0.6% in August, marking a sharp 1.8% annual decline. Broader inflation remains…
Share
BitcoinEthereumNews2025/09/18 03:08