The US Commodity Futures Trading Commission (CFTC) has reached an agreement with Gemini Trust Company that could allow the firm to avoid a civil trial if approved by a judge. According to a Jan. 6 filing in the US District Court for the Southern District of New York,

Gemini agrees to pay $5 million to settle CFTC lawsuit over misleading Bitcoin futures claims, amidst ongoing legal battles.

Gemini, the crypto exchange founded by the Winklevoss twins, has cut a $5 million check to settle a lawsuit with the Commodity Futures Trading Commission (CFTC). The case had accused them of misleading the regulator while trying to launch the first U.

For the CFTC to fold on a case like this for only a $5 million settlement is indicative of a much more dovish stance,” said Joe Doll, general counsel for Magic Eden, who is not involved in the matter.

Gemini Trust Company agreed to pay a civil penalty of $5 million to settle U.S. Commodity Futures Trading Commission charges in connection with statements it made in connection with its bitcoin futures contract in 2017,

The Gemini Trust Co. LLC, the New York-based cryptocurrency exchange founded by the Winklevoss twins in 2014, has agreed to pay a $5 million civil penalty to settle a lawsuit filed by the U.S. Commodity Futures Trading Commission over allegedly misleading statements it made about how easily the price of bitcoin futures could be manipulated.

Gemini Trust has agreed to pay $5 million to resolve allegations of providing false information to the Commodity Futures Trading Commission. The misleading claims were made during the process in which the agency was evaluating a proposed Bitcoin futures contract,

Gemini settles $5M CFTC case ahead of Trump inauguration, marking end to Bitcoin futures litigation without admitting liability.

The Winklevoss twins’ Gemini Trust Co. agreed to pay $5 million to end a Commodity Futures Trading Commission claim that it misled the derivatives regulator in a bid to launch the first US-regulated Bitcoin futures contract.