Judge Rejects CFTC, Gemini Bid to Undo $5M Settlement
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Written by:
- Ezra Reguerra, staff writer
- Yohan Yun, staff editor
Published:
October 16, 2026
A US federal judge has rejected a joint request by crypto exchange Gemini and the Commodity Futures Trading Commission (CFTC) to overturn a $5 million settlement, despite the regulator’s conclusion that it would not have pursued the case under current enforcement standards.
Key Takeaways:
- Judge Alvin Hellerstein ruled that changes in CFTC enforcement priorities and allegations of misconduct by its enforcement division were insufficient to overturn Gemini’s January 2025 settlement.
- The settlement addressed Gemini’s operation of its Bitcoin auction, including failures to disclose customer practices like trading with borrowed funds and self-trading.
- Gemini had argued for overturning the settlement based on policy changes, but the judge found these reflected policy shifts rather than significant legal changes.
- The ruling leaves intact a permanent injunction barring Gemini from making false or misleading statements to the CFTC.
Read the full article [here](link to original article)