SEC drops lawsuit against Winklevoss twins of Gemini crypto exchange

The Securities and Exchange Commission has dropped its lawsuit against Gemini, the crypto exchange founded by twins Cameron and Tyler Winklevoss.

The Winklevoss twins donated money to Donald Trump’s re-election campaign and supported his family business.

In keep together On Friday, the SEC and Gemini asked the court to dismiss the case, which was settled the fall of the stock market called Gemini Earnwhile some investors lost access to their money for 18 months.

New York Attorney General Letitia James filed for Gemini in 2023 and accused the company of defrauding investors. In order to justify the rejection of the SEC case, the new filing shows the settlement of 2024 between New York and Gemini, where the investors received “hundreds of crypto assets that they borrowed (…) through the Gemini Earn program.”

This appears to be a broader approach by the Trump administration to the crypto industry. The New York Times already reported that The SEC may waive, suspend, or reduce penalties in more than 60 percent of crypto cases expected when Trump took office last year.

Gemini also wrote to go public.