Federal Judge Rejects Joint Bid by Gemini and CFTC to Overturn $5 Million Settlement

US District Judge Alvin Hellerstein has denied a joint request by Gemini and the CFTC to vacate a January 2025 consent judgment stemming from allegations that the exchange misled the regulator during a 2017 Bitcoin futures review. The $5 million settlement and permanent injunction remain in place. The ruling signals that final court orders are not automatically undone by shifts in regulatory enforcement philosophy.

Gemini's attempt to undo a regulatory settlement did not succeed, despite receiving support from the same authority that had originally brought the case. That gap between this case and the familiar template — a trading venue contesting a regulator's conclusions — is one worth examining on its own terms.

Federal Judge Rejects Joint Bid by Gemini and CFTC to Overturn $5 Million Settlement

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Federal Judge Rejects Joint Bid by Gemini and CFTC to Overturn $5 Million Settlement

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