New York Attorney General Letitia James sued Alex Mashinsky in January 2023, accusing him of defrauding hundreds of thousands of investors, including over 26,000 New York residents

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Judge Alvin K. Hellerstein ruled under Federal Rule of Civil Procedure 60 that newly acquired knowledge of facts existing when the January 2025 consent order was entered does not constitute a significant change in factual circumstances

The CFTC filed a lawsuit in 2022 alleging Gemini Trust Company made false or misleading statements of material fact in 2017 regarding a Bitcoin futures contract relying on Gemini auction prices

Binance.US lost significant U.S. market share and suffered banking disruptions after international exchange Binance reached a multibillion-dollar settlement with U.S. regulators over financial law violations in 2023

Binance.US experienced reduced access to dollar payment services as a result of regulatory pressure following 2023 actions against global exchange Binance

An internal CFTC review concluded the agency should not have filed the 2022 complaint against Gemini Trust Company over 2017 Bitcoin futures statements due to an uncredible whistleblower and a shift in enforcement priorities

Judge Alvin K. Hellerstein ruled that the CFTC's reassessment of its enforcement priorities does not require vacatur because court judgments belong to the judiciary rather than the agency

Judge Alvin K. Hellerstein rejected Gemini's claims of regulatory pressure, holding that litigating for three years before making a calculated decision to settle shortly before trial does not render Gemini's consent to settle involuntary

The January 2025 consent order between Gemini Trust Company and the CFTC imposed a $5 million civil monetary penalty and a permanent injunction barring Gemini from making false or misleading statements to the CFTC, following the 2022 Bitcoin futures lawsuit

The CFTC stated in its May 2026 vacatur filing that the Biden-administration enforcement action would not have been brought under President Donald Trump's administration and involved inappropriate litigation tactics

U.S. District Judge Alvin K. Hellerstein of the Southern District of New York denied a joint motion from Gemini Trust Company and the CFTC to vacate a January 2025 consent order on October 15, 2026

Gemini Trust Company had already paid the $5 million civil monetary penalty imposed by the January 2025 consent order, and sought no refund in the May 2026 joint vacatur motion

Gemini Trust Company agreed to settle the CFTC enforcement action in January 2025, three weeks before the case was scheduled to go to trial after roughly three years of litigation

The October 15, 2026 court ruling leaves the permanent injunction and restrictions prohibiting Gemini Trust Company from publicly denying the 2022 CFTC case's findings in place

The United States Securities and Exchange Commission's case against Richard Heart was dismissed on jurisdictional grounds in February 2025

The California Department of Financial Protection and Innovation fined Coinme $300,000 and ordered $51,700 in restitution in June 2025 for crypto kiosk violations.

Coinme agreed to a $2.5 million settlement with 34 state regulators on October 8, 2026 over alleged Bank Secrecy Act and anti-money laundering failures.

Approximately 16,000 Chinese investors joined civil recovery proceedings under Section 281 of Britain's Proceeds of Crime Act 2002 seeking proprietary rights to the 61,000 bitcoin seized from Zhimin Qian

According to law firm Duan & Duan UK LLP, the British High Court's October 12 ruling requires Chinese fraud victims to establish direct proprietary ownership under Chinese law rather than personal claims as creditors for monetary repayment

Zhimin Qian fled China for Myanmar in July 2017 before entering Britain, where she was arrested in April 2024 and sentenced to 11 years and eight months in prison in November 2025.

On October 12, 2026, Justice Mark Turner of Britain's High Court ruled that Chinese law governs ownership claims over more than 61,000 bitcoin seized from convicted fraudster Zhimin Qian.