Gemini accused the CFTC of relying on fabricated whistleblower claims to advance its 2022 lawsuit, asserting that the lawsuit was based on misinformation. They allege that the enforcement division aimed to enhance its reputation at their expense.
In January 2023, Gemini settled the lawsuit with a $5 million payment without admitting guilt. The company expressed its willingness to assist the CFTC in reforming its enforcement practices to prevent future misconduct.
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