Gemini Files Complaint Against CFTC, Alleges 7-Year 'Lawfare' Campaign

Description

Gemini accuses CFTC of a 7-year "lawfare" campaign driven by career ambitions while highlighting a discredited whistleblower who may still receive $1.5 million despite lying to regulators.

Authors

Vismaya V

Publish date

June 18, 2025

Publisher

Decrypt

Web URL

https://decrypt.co/325742/gemini-files-complaint-against-cftc

Referenced by

Gemini’s grievance stems from a 2022 CFTC lawsuit that accused Gemini of making "material false or misleading statements" to regulators in 2017 about whether its Bitcoin auction pricing mechanism was susceptible to manipulation.

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Gemini alleged that enforcement lawyers "selectively and unfairly weaponized" federal law to bring "dubious false statements charges" against the exchange founded by Cameron and Tyler Winklevoss, in a 13-page letter filed June 13 to CFTC Inspector General Christopher Skinner.

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As Acting CFTC Chair Caroline Pham has publicly criticized the enforcement division's toxic culture and called for reform, Gemini said it's encouraged by these efforts. Still, it warns that fixing the division will require "serious introspection and long-term commitment."

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