Gemini Belief Firm, owned by Cameron and Tyler Winklevoss, agreed to pay a civil penalty of $5 million to settle US Commodity Futures Buying and selling Fee costs in reference to statements it made in reference to its bitcoin futures contract in 2017, a court docket submitting confirmed on Monday.
Gemini additionally agreed to a everlasting injunction, in keeping with the consent order filed in federal court docket in New York.
The CFTC sued Gemini in 2022 for making false and deceptive statements of fabric details or omitting such details to the CFTC in 2017 associated to a bitcoin futures contract it sought to launch.
Based on the order, Gemini didn’t admit or deny the CFTC’s findings. A spokesperson for the corporate didn’t reply instantly to a request for remark.
