Winklevoss Twins &#039, Gemini Will Pay$ 5 Million to Settle CFTC Bitcoin Futures Lawsuit

According to court documents filed on Monday, Tyler and Cameron Winklevoss ‘ company, the Gemini Trust Company, has agreed to pay a$ 5 million civil penalty in response to a Commodity Futures Trading Commission lawsuit alleging it lied to regulators.

In an effort to get approval for its Bitcoin futures goods, the CFTC filed a lawsuit against the crypto company in 2022 for “making materially false or misleading statements.” The proposed arrangement spares Gemini from the test that was scheduled to start on January 21. The announcement was initially reported by .