SEC drops its lawsuit against the Winklevoss twins' Gemini crypto exchange
The case centred on the collapse of Gemini Earn, where some investors could not access their money for 18 months.
On January 23, the US Securities and Exchange Commission (SEC) and Gemini filed a joint request asking the court to dismiss the SEC's case against Gemini.
What was the case about?
- The collapse of the Gemini Earn programme
- Some investors could not access their money for 18 months
- Gemini is run by the Winklevoss twins, Cameron and Tyler
Did people get their money back?
New York Attorney General Letitia James sued Gemini in 2023. Under a 2024 settlement, investors received 100% of the crypto assets they had loaned through Gemini Earn.
The bigger picture
According to the New York Times, the SEC has dismissed, paused or reduced penalties in more than 60% of the crypto cases pending when Trump took office. Gemini has also filed to go public.
Founder and editor-in-chief of Kurd Developers. Phone and tech news on YouTube, Instagram and TikTok.
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