Crypto exchange Gemini agreed to pay $5 million to settle a case with the U.S. Commodity Futures Trading Commission over allegedly misleading statements it made more than seven years ago about how easily the price of a bitcoin futures contract could be manipulated. Cameron and Tyler Winklevoss' exchange settled without admitting or denying liability, according to a letter on Monday from the CFTC's attorney, K. Brent Tomer. The CFTC sued Gemini in 2022, alleging it had misled the U.S. regulator during in-person meetings that occurred in 2017. Gemini also faces another case with the Securities and Exchange Commission (SEC).
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