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Adani stocks suffer Rs 1.4 lakh crore shock, crash up to 15%. Here's what went wrong
Adani Group stocks, led by Adani Green, Adani Enterprises, Adani Energy and Adani Ports, nosedived up to 14% after the US Securities and Exchange Commission asked a US court for permission to directly email summons to Gautam Adani and Sagar Adani, Reuters reported, citing court filings. The combined market capitalisation of all 10 listed entities of the conglomerate fell by Rs 1.4 lakh crore to about Rs 12.2 lakh crore during the day.
The SEC told the court that India had previously rejected two requests to serve the summons through official channels. The case is the highest-profile legal action involving an Indian conglomerate in the US, with the regulator attempting to serve summons on Adani Group founder Gautam Adani and his nephew Sagar Adani since last year.
The Reuters report added that the SEC said it does not expect service to be completed through existing channels and has sought court approval to send the summons directly via email to the two executives.
#sec
Adani Group stocks, led by Adani Green, Adani Enterprises, Adani Energy and Adani Ports, nosedived up to 14% after the US Securities and Exchange Commission asked a US court for permission to directly email summons to Gautam Adani and Sagar Adani, Reuters reported, citing court filings. The combined market capitalisation of all 10 listed entities of the conglomerate fell by Rs 1.4 lakh crore to about Rs 12.2 lakh crore during the day.
The SEC told the court that India had previously rejected two requests to serve the summons through official channels. The case is the highest-profile legal action involving an Indian conglomerate in the US, with the regulator attempting to serve summons on Adani Group founder Gautam Adani and his nephew Sagar Adani since last year.
The Reuters report added that the SEC said it does not expect service to be completed through existing channels and has sought court approval to send the summons directly via email to the two executives.
#sec
🚨 SEC SHOCKER: CRYPTO DROPPED AS TOP 2026 RISK!
The regulatory hammer is lifting slightly. SEC removed digital assets from the 2026 special risk focus list. This is a massive tone shift signaling maturity, not freedom.
• Market perception instantly improves.
• Easing pressure on exchanges and issuers.
• Signals crypto moving toward normalization.
Enforcement still exists, but the "exception" label is fading. This narrative fuels institutional confidence and adoption flows. Watch for sentiment reversal!
#CryptoRegulation #SEC #DigitalAssets #MarketCycle 🔥
The regulatory hammer is lifting slightly. SEC removed digital assets from the 2026 special risk focus list. This is a massive tone shift signaling maturity, not freedom.
• Market perception instantly improves.
• Easing pressure on exchanges and issuers.
• Signals crypto moving toward normalization.
Enforcement still exists, but the "exception" label is fading. This narrative fuels institutional confidence and adoption flows. Watch for sentiment reversal!
#CryptoRegulation #SEC #DigitalAssets #MarketCycle 🔥
SEC and CFTC to hold joint event to discuss making the US the "crypto capital of the world."
$BTC
#SEC
$BTC
#SEC
🚨 SEC DUMPS CRYPTO FROM 2026 RISK LIST! 🚨
THE REGULATORS ARE BACKING OFF. This is massive structural news for the entire digital asset space. They are officially downgrading crypto focus. Time to load up before the herd realizes what's happening. $AUCTION $RIVER $BTR are positioned perfectly for this shift. Expect immediate volatility spikes.
• SEC removes crypto from 2026 special risk list.
• Major regulatory pressure easing up.
• Prepare for explosive moves.
#CryptoNews #SEC #Altseason #DeFi 🚀
THE REGULATORS ARE BACKING OFF. This is massive structural news for the entire digital asset space. They are officially downgrading crypto focus. Time to load up before the herd realizes what's happening. $AUCTION $RIVER $BTR are positioned perfectly for this shift. Expect immediate volatility spikes.
• SEC removes crypto from 2026 special risk list.
• Major regulatory pressure easing up.
• Prepare for explosive moves.
#CryptoNews #SEC #Altseason #DeFi 🚀
$AUCTION $RIVER
1)NEW: 🇺🇸The SEC and CFTC announce a joint meeting on January 27 to discuss harmonizing cryptocurrency regulations. This coincides with the same day the CLARITY ACT is voted on in the Senate.
#Mag7Earnings #SEC #CFTC #CLARITYAct #TRUMP
1)NEW: 🇺🇸The SEC and CFTC announce a joint meeting on January 27 to discuss harmonizing cryptocurrency regulations. This coincides with the same day the CLARITY ACT is voted on in the Senate.
#Mag7Earnings #SEC #CFTC #CLARITYAct #TRUMP
SEC SHOCKER: REGULATORY NIGHTMARE OVER!
Entry: 16500 🟩
Target 1: 17500 🎯
Target 2: 18500 🎯
Stop Loss: 15500 🛑
The old guard is GONE. New SEC leadership is flipping the script entirely. Strategic ambiguity is DEAD. They are actively normalizing digital assets. This is the green light we've been waiting for. The lawsuits against legitimate players are DISMISSED. This is not a drill. The market is about to EXPLODE. Get in NOW before the FOMO hits critical mass. Massive upside incoming.
Disclaimer: Trading involves risk.
#Crypto #SEC #Regulation #BullRun #FOMO 🚀
Entry: 16500 🟩
Target 1: 17500 🎯
Target 2: 18500 🎯
Stop Loss: 15500 🛑
The old guard is GONE. New SEC leadership is flipping the script entirely. Strategic ambiguity is DEAD. They are actively normalizing digital assets. This is the green light we've been waiting for. The lawsuits against legitimate players are DISMISSED. This is not a drill. The market is about to EXPLODE. Get in NOW before the FOMO hits critical mass. Massive upside incoming.
Disclaimer: Trading involves risk.
#Crypto #SEC #Regulation #BullRun #FOMO 🚀
REGULATION CHAOS ENDS. NEW SEC SHOCKWAVE.
Entry: 1000 🟩
Target 1: 1200 🎯
Stop Loss: 950 🛑
The old regime played games. Now, clarity is here. The SEC's "Project Crypto" is flipping the script. Most tokens are NOT securities. This is a MASSIVE shift. Legitimate projects are finally getting a fair shake. Fraudsters thrived in the ambiguity. No more. The era of deliberate confusion is OVER. Prepare for liftoff. This is your chance to get in before the FOMO hits critical mass. Don't get left behind.
Disclaimer: This is not financial advice.
#CryptoNews #SEC #Regulation #Altcoins 🚀
Entry: 1000 🟩
Target 1: 1200 🎯
Stop Loss: 950 🛑
The old regime played games. Now, clarity is here. The SEC's "Project Crypto" is flipping the script. Most tokens are NOT securities. This is a MASSIVE shift. Legitimate projects are finally getting a fair shake. Fraudsters thrived in the ambiguity. No more. The era of deliberate confusion is OVER. Prepare for liftoff. This is your chance to get in before the FOMO hits critical mass. Don't get left behind.
Disclaimer: This is not financial advice.
#CryptoNews #SEC #Regulation #Altcoins 🚀
🚨 SEC REGULATORY TSUNAMI JUST HIT! FORMER SEC CHAIR CALLED OUT HARD.
Paul Graham confirms the industry BEGGED for clear rules but the old SEC deliberately created strategic ambiguity. This forced innovation offshore while real frauds thrived untouched. It was an attack.
The new SEC head, Atkins, is flipping the script with "Project Crypto." His core belief: MOST TOKENS ARE NOT SECURITIES. This is a total reversal of the Gensler doctrine.
✅ Major cases against $COINBASE, $KRAKEN, and $RIPPLE are being settled or dismissed. Litigation is NOT the way to set law. Get ready for clarity.
#CryptoRegulation #SEC #PaulGraham #DigitalAssets 🚀
Paul Graham confirms the industry BEGGED for clear rules but the old SEC deliberately created strategic ambiguity. This forced innovation offshore while real frauds thrived untouched. It was an attack.
The new SEC head, Atkins, is flipping the script with "Project Crypto." His core belief: MOST TOKENS ARE NOT SECURITIES. This is a total reversal of the Gensler doctrine.
✅ Major cases against $COINBASE, $KRAKEN, and $RIPPLE are being settled or dismissed. Litigation is NOT the way to set law. Get ready for clarity.
#CryptoRegulation #SEC #PaulGraham #DigitalAssets 🚀
$FOGO is printing lower highs with sellers firmly in control. Breakdown structure favors further downside.
Short Setup:
• Entry: 0.0360 – 0.0372
• TPs: 0.0345 → 0.0328 → 0.0305
• SL: 0.0385
📉 Outlook: As long as price stays below resistance, downside continuation remains likely. Manage risk and respect the stop.
#fogo #WEFDavos2026 #SEC $FOGO
Short Setup:
• Entry: 0.0360 – 0.0372
• TPs: 0.0345 → 0.0328 → 0.0305
• SL: 0.0385
📉 Outlook: As long as price stays below resistance, downside continuation remains likely. Manage risk and respect the stop.
#fogo #WEFDavos2026 #SEC $FOGO
🚨 SEC DROPS THE HAMMER: CRYPTO NO LONGER A TOP RISK! 🇺🇸
The SEC just shocked the market by removing crypto from its 2026 special risk priorities. This is massive relief for the entire sector. Expect immediate volatility and potential relief rallies across the board. Pay close attention to $AUCTION, $RIVER, and $BTR as they react to this regulatory shift. This changes everything for Q4 planning.
#SEC #CryptoNews #MarketShift #RegulationDebate $BTR
The SEC just shocked the market by removing crypto from its 2026 special risk priorities. This is massive relief for the entire sector. Expect immediate volatility and potential relief rallies across the board. Pay close attention to $AUCTION, $RIVER, and $BTR as they react to this regulatory shift. This changes everything for Q4 planning.
#SEC #CryptoNews #MarketShift #RegulationDebate $BTR
💥 SEC DROPS GEMINI EARN LAWSUIT — WITH PREJUDICE
In a major regulatory development, the U.S. SEC and Gemini Trust Company have jointly moved to dismiss the Gemini Earn lawsuit with prejudice, permanently closing the case.
📌 Key facts:
The lawsuit was filed in January 2023, alleging Gemini’s Earn program involved unregistered securities
Dismissal with prejudice means these claims can never be refiled
100% of investor funds have now been returned via the Genesis Global Capital bankruptcy process
The decision follows full restitution and state + regulatory settlements
⚖️ Why this matters:
This marks one of the most closely watched post-2022 crypto enforcement battles — and it ends with investors made whole.
The outcome sends a clear signal:
👉 Investor recovery matters
👉 Enforcement paths can change when harm is fully remediated
👉 Regulatory pressure is shifting from punishment to resolution
📊 This case will likely influence how future crypto lending, yield products, and enforcement actions are handled across the industry.
👀 Crypto regulation just entered a new phase.
#CryptoNew #SEC #ETHMarketWatch #mmszcryptominingcommunity #CryptoRegulation $ETH
In a major regulatory development, the U.S. SEC and Gemini Trust Company have jointly moved to dismiss the Gemini Earn lawsuit with prejudice, permanently closing the case.
📌 Key facts:
The lawsuit was filed in January 2023, alleging Gemini’s Earn program involved unregistered securities
Dismissal with prejudice means these claims can never be refiled
100% of investor funds have now been returned via the Genesis Global Capital bankruptcy process
The decision follows full restitution and state + regulatory settlements
⚖️ Why this matters:
This marks one of the most closely watched post-2022 crypto enforcement battles — and it ends with investors made whole.
The outcome sends a clear signal:
👉 Investor recovery matters
👉 Enforcement paths can change when harm is fully remediated
👉 Regulatory pressure is shifting from punishment to resolution
📊 This case will likely influence how future crypto lending, yield products, and enforcement actions are handled across the industry.
👀 Crypto regulation just entered a new phase.
#CryptoNew #SEC #ETHMarketWatch #mmszcryptominingcommunity #CryptoRegulation $ETH
Exciting News in Crypto! 🚀 Grayscale has just filed with the SEC to launch a spot BNB ETF! This marks a huge step beyond Bitcoin and Ether, offering investors regulated exposure to BNB without the need for direct custody.
If approved, the "GBNB" ETF would trade on Nasdaq, tracking BNB's market price. This could be a game-changer for mainstream adoption and access to the fourth-largest cryptocurrency by market cap!
What are your thoughts on this expansion? Let us know below!
#BNB
#Grayscale
#CryptoETF
#SEC
#Binance
If approved, the "GBNB" ETF would trade on Nasdaq, tracking BNB's market price. This could be a game-changer for mainstream adoption and access to the fourth-largest cryptocurrency by market cap!
What are your thoughts on this expansion? Let us know below!
#BNB
#Grayscale
#CryptoETF
#SEC
#Binance
🟢 SEC DROPS LAWSUIT AGAINST GEMINI (EARN PRODUCT) 🇺🇸
Big regulatory win for crypto 👀
The U.S. SEC has agreed to dismiss its lawsuit against the Winklevoss twins’ Gemini exchange related to the Gemini Earn product.
🔹 Case centered around whether Earn qualified as an unregistered security
🔹 Dismissal signals easing pressure in some crypto enforcement actions
🔹 Positive precedent for exchanges and yield-based products
Another sign the regulatory tide may be shifting.
Clarity > chaos for the crypto market. ⚡
#CryptoNews #SEC #Gemini #Regulation #CryptoAdoption #BinanceSquare
Big regulatory win for crypto 👀
The U.S. SEC has agreed to dismiss its lawsuit against the Winklevoss twins’ Gemini exchange related to the Gemini Earn product.
🔹 Case centered around whether Earn qualified as an unregistered security
🔹 Dismissal signals easing pressure in some crypto enforcement actions
🔹 Positive precedent for exchanges and yield-based products
Another sign the regulatory tide may be shifting.
Clarity > chaos for the crypto market. ⚡
#CryptoNews #SEC #Gemini #Regulation #CryptoAdoption #BinanceSquare
🚨 BREAKING: NEW CRYPTO BILL HITS THE SENATE! 🚨
The "Digital Asset Market Structure Bill" just got a major update, and the game is about to change. 🇺🇸🏛️
The Big Shift: 🔹 CFTC Authority: The Commodity Futures Trading Commission is getting expanded power over digital commodities. This means more clarity for spot markets! 🛠️📈 🔹 The Meeting: A formal "Markup" session is set for January 27, 2026. This is where the bill gets finalized for a vote. 🗓️⚖️ 🔹 Reality Check: Regulation is moving from "Talk" to "Execution."
Why it matters: This bill aims to end the years of "Regulation by Enforcement." If passed, it provides a clear legal framework for exchanges and investors, potentially unlocking billions in institutional capital. 🌊💰
"The guard is changing. Markets should pay close attention to Jan 27."
What's your take? 🚀 - Bullish (Clear rules = More growth) ⚠️ - Bearish (Too much regulation)
#BinanceSquare #CryptoRegulation #CFTC #SEC #CryptoNews2026
$BTC $ETH
The "Digital Asset Market Structure Bill" just got a major update, and the game is about to change. 🇺🇸🏛️
The Big Shift: 🔹 CFTC Authority: The Commodity Futures Trading Commission is getting expanded power over digital commodities. This means more clarity for spot markets! 🛠️📈 🔹 The Meeting: A formal "Markup" session is set for January 27, 2026. This is where the bill gets finalized for a vote. 🗓️⚖️ 🔹 Reality Check: Regulation is moving from "Talk" to "Execution."
Why it matters: This bill aims to end the years of "Regulation by Enforcement." If passed, it provides a clear legal framework for exchanges and investors, potentially unlocking billions in institutional capital. 🌊💰
"The guard is changing. Markets should pay close attention to Jan 27."
What's your take? 🚀 - Bullish (Clear rules = More growth) ⚠️ - Bearish (Too much regulation)
#BinanceSquare #CryptoRegulation #CFTC #SEC #CryptoNews2026
$BTC $ETH
The "Morgan Stanley" Leak (Solana Alpha)
This post focuses on the specific Morgan Stanley filing from earlier this month.
Title: The "Secret" Filing That Will Send Solana to $300 🤫☀️
While everyone is panic-selling Bitcoin, Morgan Stanley just quietly made the most bullish move of 2026.
Did you catch the fine print in their Jan 7th filing?
They didn't just file for a "Solana ETF"—they filed for a Solana ETF with STAKING REWARDS. This changes everything.
Old Model: You buy an ETF, you pay fees.
New Model: You buy the Morgan Stanley SOL ETF, and the yield pays the fees for you. The Institutional Math: Institutions are currently chasing "yield" in a low-rate world. A regulated, 5-7% APY on Solana is the "Holy Grail" for pension funds. This is why we are seeing $41 Million in weekly inflows into SOL products despite the market crash.
The Trade:
The SEC deadline for this approval is approaching in February. The market is pricing in a "Delay," but the smart money is front-running an "Approval."
$PENGU
$PEPE
$1000SHIB
#SEC #SOLETF #USJobsData
This post focuses on the specific Morgan Stanley filing from earlier this month.
Title: The "Secret" Filing That Will Send Solana to $300 🤫☀️
While everyone is panic-selling Bitcoin, Morgan Stanley just quietly made the most bullish move of 2026.
Did you catch the fine print in their Jan 7th filing?
They didn't just file for a "Solana ETF"—they filed for a Solana ETF with STAKING REWARDS. This changes everything.
Old Model: You buy an ETF, you pay fees.
New Model: You buy the Morgan Stanley SOL ETF, and the yield pays the fees for you. The Institutional Math: Institutions are currently chasing "yield" in a low-rate world. A regulated, 5-7% APY on Solana is the "Holy Grail" for pension funds. This is why we are seeing $41 Million in weekly inflows into SOL products despite the market crash.
The Trade:
The SEC deadline for this approval is approaching in February. The market is pricing in a "Delay," but the smart money is front-running an "Approval."
$PENGU
$PEPE
$1000SHIB
#SEC #SOLETF #USJobsData
LUNC BREAKING📍: The TFL Bankruptcy Hearing for Jan 26 is CANCELLED. ❌
According to the latest US Bankruptcy Court filings:
1️⃣ Hearing Cancelled (Source: Docket #1169)
2️⃣ Extension Granted (Source: Docket #1165)
What does this mean?The court has allowed TFL to extend its dissolution deadline to #Dec 31, 2026. #TFL is now officially in "Zombie Mode"—existing strictly to liquidate assets and handle #SEC compliance. Zero governance power. Zero interference.
This is the best-case scenario for a smooth transition. The chain is safe. 🛡️
$LUNC #TerraClassic #USTC
According to the latest US Bankruptcy Court filings:
1️⃣ Hearing Cancelled (Source: Docket #1169)
2️⃣ Extension Granted (Source: Docket #1165)
What does this mean?The court has allowed TFL to extend its dissolution deadline to #Dec 31, 2026. #TFL is now officially in "Zombie Mode"—existing strictly to liquidate assets and handle #SEC compliance. Zero governance power. Zero interference.
This is the best-case scenario for a smooth transition. The chain is safe. 🛡️
$LUNC #TerraClassic #USTC
The SEC surrenders to Gemini: one of the largest crypto cases since 2022 closes with defeat
📅 January 24
For almost three years, the Gemini Earn case was presented as one of the most compelling examples of how the SEC intended to regulate the crypto industry through judicial force. It was the symbol of the “enforcement first” era, where the regulator sought to set precedents through exemplary lawsuits.
📖The SEC filed with the Southern District Court of New York a joint stipulation to dismiss with prejudice its civil lawsuit against Gemini Trust Company over the Gemini Earn program.
The original lawsuit, filed in January 2023 against Genesis and Gemini, accused the program of constituting an unregistered securities offering. Gemini Earn had been launched in February 2021 promising up to 7.4% APY to users who lent their cryptocurrencies. It all came crashing down in November 2022, when Genesis froze withdrawals following the post-FTX credit crisis, leaving around $940 million belonging to 340,000 users locked.
In March 2024, a federal judge denied motions to dismiss the case, stating that the SEC had made “plausible” arguments about securities violations. At that time, the process seemed to be heading towards a trial that could set a historic precedent.
However, between May and June 2024, during the bankruptcy process of Genesis Global Capital, something happened that completely changed the landscape: users received 100% of their crypto assets in kind, that is, not in dollars, but in the same cryptocurrencies that they had deposited.
That fact was key. The SEC explicitly acknowledged that this full recovery was the determining factor in dropping the case. Previous regulatory settlements also weighed in: Genesis paid $21 million to the SEC, while Gemini paid $37 million to the NYDFS and contributed an additional $40 million to the bankruptcy process to facilitate full recovery for customers.
The dismissal “with prejudice” definitively closes the case and joins a series of similar withdrawals by the SEC under the direction of its new chairman Paul Atkins, who took office in April 2025 and has promoted the “Project Crypto” program to modernize the rules instead of continuing with the massive litigation strategy of the Gensler era.
Topic Opinion:
This case marks a before and after in the relationship between the SEC and the crypto industry. Not because Gemini “won,” but because the regulator decided to withdraw after years of building a narrative of securities violations.
💬 Is this the definitive end of the era of massive lawsuits against the crypto sector?
Leave your comment...
#Gemini #SEC #CryptoLending #Regulation #CryptoNews $BTC
For almost three years, the Gemini Earn case was presented as one of the most compelling examples of how the SEC intended to regulate the crypto industry through judicial force. It was the symbol of the “enforcement first” era, where the regulator sought to set precedents through exemplary lawsuits.
📖The SEC filed with the Southern District Court of New York a joint stipulation to dismiss with prejudice its civil lawsuit against Gemini Trust Company over the Gemini Earn program.
The original lawsuit, filed in January 2023 against Genesis and Gemini, accused the program of constituting an unregistered securities offering. Gemini Earn had been launched in February 2021 promising up to 7.4% APY to users who lent their cryptocurrencies. It all came crashing down in November 2022, when Genesis froze withdrawals following the post-FTX credit crisis, leaving around $940 million belonging to 340,000 users locked.
In March 2024, a federal judge denied motions to dismiss the case, stating that the SEC had made “plausible” arguments about securities violations. At that time, the process seemed to be heading towards a trial that could set a historic precedent.
However, between May and June 2024, during the bankruptcy process of Genesis Global Capital, something happened that completely changed the landscape: users received 100% of their crypto assets in kind, that is, not in dollars, but in the same cryptocurrencies that they had deposited.
That fact was key. The SEC explicitly acknowledged that this full recovery was the determining factor in dropping the case. Previous regulatory settlements also weighed in: Genesis paid $21 million to the SEC, while Gemini paid $37 million to the NYDFS and contributed an additional $40 million to the bankruptcy process to facilitate full recovery for customers.
The dismissal “with prejudice” definitively closes the case and joins a series of similar withdrawals by the SEC under the direction of its new chairman Paul Atkins, who took office in April 2025 and has promoted the “Project Crypto” program to modernize the rules instead of continuing with the massive litigation strategy of the Gensler era.
Topic Opinion:
This case marks a before and after in the relationship between the SEC and the crypto industry. Not because Gemini “won,” but because the regulator decided to withdraw after years of building a narrative of securities violations.
💬 Is this the definitive end of the era of massive lawsuits against the crypto sector?
Leave your comment...
#Gemini #SEC #CryptoLending #Regulation #CryptoNews $BTC
SEC Dismisses Lawsuit Against Gemini After Full Investor Repayment
The U.S. Securities and Exchange Commission (SEC) has dropped its lawsuit against Gemini. This occurred after investors in the exchange's defunct lending program were fully repaid. The SEC and Gemini filed a joint stipulation for dismissal with prejudice in federal court in Manhattan.
The dismissal resulted from the complete return of crypto assets to all Gemini Earn investors. This was achieved through the Genesis Global Capital bankruptcy process and related settlements between May and June 2024.
Full Repayment: Genesis returned 100% of customer assets in cryptocurrency, not cash value. This was a key factor in the SEC's decision.
Prior Settlements: The decision also considered settlements Gemini reached with the New York State Department of Financial Services (NYSDFS).
SEC Discretion: The SEC stated the dismissal was "in the exercise of its discretion" and emphasized that it does not reflect its position on other crypto-related enforcement actions.
The SEC filed the lawsuit in January 2023.
The SEC accused Gemini and Genesis Global Capital of offering and selling unregistered securities through the Gemini Earn program.
The program allowed Gemini users to loan their crypto assets to Genesis for interest payments. The program held approximately $940 million in customer assets when Genesis froze withdrawals in November 2022. This followed the collapse of other major crypto firms like FTX.
This dismissal is part of a broader trend of leniency in the SEC's approach to digital asset regulation. More than 60% of pending crypto cases have been dismissed, paused, or had penalties reduced. Gemini, a publicly traded company, has filed to go public and sees this as a growth opportunity as regulatory pressures ease.
#SEC #Gemini #crypto #dismissal #WhoIsNextFedChair
The U.S. Securities and Exchange Commission (SEC) has dropped its lawsuit against Gemini. This occurred after investors in the exchange's defunct lending program were fully repaid. The SEC and Gemini filed a joint stipulation for dismissal with prejudice in federal court in Manhattan.
The dismissal resulted from the complete return of crypto assets to all Gemini Earn investors. This was achieved through the Genesis Global Capital bankruptcy process and related settlements between May and June 2024.
Full Repayment: Genesis returned 100% of customer assets in cryptocurrency, not cash value. This was a key factor in the SEC's decision.
Prior Settlements: The decision also considered settlements Gemini reached with the New York State Department of Financial Services (NYSDFS).
SEC Discretion: The SEC stated the dismissal was "in the exercise of its discretion" and emphasized that it does not reflect its position on other crypto-related enforcement actions.
The SEC filed the lawsuit in January 2023.
The SEC accused Gemini and Genesis Global Capital of offering and selling unregistered securities through the Gemini Earn program.
The program allowed Gemini users to loan their crypto assets to Genesis for interest payments. The program held approximately $940 million in customer assets when Genesis froze withdrawals in November 2022. This followed the collapse of other major crypto firms like FTX.
This dismissal is part of a broader trend of leniency in the SEC's approach to digital asset regulation. More than 60% of pending crypto cases have been dismissed, paused, or had penalties reduced. Gemini, a publicly traded company, has filed to go public and sees this as a growth opportunity as regulatory pressures ease.
#SEC #Gemini #crypto #dismissal #WhoIsNextFedChair
SEC agrees to dismiss Gemini “Earn” case
SEC agrees to dismiss Gemini Earn enforcement case ⚖️✅
What’s happening: The SEC agreed to dismiss its case against Gemini over the “Earn” crypto lending program after investors recovered their assets in full, following repayments tied to Genesis’ bankruptcy process.
Why it matters: This is a notable enforcement reset signal and could influence how U.S. regulators and platforms approach lending-yield products going forward.
#SEC #Gemini #CryptoLending #USMarkets #CryptoNews
SEC agrees to dismiss Gemini Earn enforcement case ⚖️✅
What’s happening: The SEC agreed to dismiss its case against Gemini over the “Earn” crypto lending program after investors recovered their assets in full, following repayments tied to Genesis’ bankruptcy process.
Why it matters: This is a notable enforcement reset signal and could influence how U.S. regulators and platforms approach lending-yield products going forward.
#SEC #Gemini #CryptoLending #USMarkets #CryptoNews
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