SEC Drops Lawsuit Against Winklevoss Twins’ Crypto Firm ⚖️🪙
The U.S. Securities and Exchange Commission has agreed to dismiss its enforcement case against Gemini, the cryptocurrency exchange founded by Tyler and Cameron Winklevoss. The decision follows the full recovery of assets by investors who participated in Gemini’s Earn lending program.
The case was tied to Gemini’s partnership with Genesis Global Capital, which froze withdrawals in 2022 during the broader crypto market collapse. Through Genesis’ bankruptcy proceedings, Earn users received 100% of their crypto assets back in kind, which played a key role in the SEC’s move to end the lawsuit.
The dismissal reflects a broader shift in Washington’s stance toward digital assets. Under President Donald Trump’s pro-crypto approach, regulators have taken a more industry-friendly tone compared to the stricter enforcement period seen in prior years.
Despite dropping the case, the SEC stated that the decision does not set a precedent for other crypto enforcement actions. Gemini, meanwhile, has continued expanding operations and remains one of the more prominent U.S.-based crypto exchanges.
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