Crypto Exchange Gemini Accuses CFTC Of Lawfare Campaign, ‘Toxic Culture’ In New Complaint

Description

Gemini slams CFTC's "trophy-hunting lawfare" and toxic culture in a formal complaint while praising Acting Chair Caroline Pham's efforts to restore regulatory clarity.

Publish date

June 18, 2025

Publisher

Bitcoinist

Web URL

https://bitcoinist.com/crypto-exchange-gemini-accuses-cftc-of-lawfare-campaign-toxic-culture-in-new-complaint

Referenced by

The June 13 letter accuses the DOE staff of “selectively and unfairly” weaponizing the Commodity Exchange Act to “bring dubious false statements charges against Gemini Trust” and “taking a series of legal positions that are contrary to basic principles of due process and good governance.”

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The agency’s acting chair claimed that the CFTC will no longer “twist the law to criminalize an asset class or a technology,” focusing instead on its “core mission” to catch bad actors and prevent fraud, manipulation, and scammers in the market.

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In 2022, the CFTC sued Gemini, claiming that the exchange issued “false and misleading statements” regarding its actions to prevent market manipulation in Bitcoin (BTC) prices in 2017. The complaint alleged that the crypto exchange gave deceiving information to the CFTC as it evaluated a possible self-certification for a BTC futures contract.

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