# Winklevoss Twins Settle With CFTC

*Author: Kazu Umemoto*
*Published: Jan 6, 2025*
*Source: https://www.bankless.com/read/winklevoss-twins-settle-with-cftc*

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Gemini, the crypto exchange founded by the Winklevoss twins, has agreed to pay a $5M fine to settle allegations from the Commodity Futures Trading Commission. 

## **What's the Scoop?**
- **Allegations Against Gemini:** The CFTC suit against Gemini is for "making material false or misleading statements" in order to help with the approval of their Bitcoin futures product. 
- **Avoiding Trial: **The settlement helps Gemini by avoiding a trial that was set to begin on January 21.

## **Bankless Take**
Gemini’s settlement with the CFTC marks the conclusion of yet another regulator squabble with the Biden era commission. With a number of pro-crypto candidates rumored to take over the commission under Trump, settlements like this could soon be minimized or swept over.