SEC drops lawsuit against Winklevoss twins’ crypto firm

The Guardian - World NewsCenter-LeftEN 2 min read 100% complete by ReutersJanuary 26, 2026 at 07:04 PM

AI Summary

medium article 2 min

The SEC dropped its lawsuit against Gemini, the cryptocurrency exchange founded by the Winklevoss twins, after investors in its Gemini Earn lending program fully recovered their assets. The SEC had accused Gemini and Genesis Global Capital in 2023 of illegally selling securities through the program, where customers loaned crypto to Genesis for interest. Genesis froze accounts in November 2022, impacting $940 million in assets. Genesis was able to return the crypto assets in kind through its bankruptcy process between May and June 2024. The SEC and Gemini filed a joint stipulation in federal court in Manhattan to dismiss the case, with the SEC stating the dismissal was appropriate due to the full return of assets.

Key Entities & Roles

Key Player Opposition Context

Manhattan 30% Changpeng Zhao 40% New York ×240% Joe Biden 50% Gemini Trust Company 60% Donald Trump ×260% Tyler Winklevoss 70% Gemini Earn ×470% Cameron Winklevoss 70% Gemini Space Station ×380% Genesis Global Capital ×380% Securities and Exchange Commission ×690%

Keywords

sec 100% cryptocurrency 90% gemini 90% lawsuit dismissal 80% crypto lending program 70% genesis global capital 70% bankruptcy 60% financial regulation 50% trump administration 50% digital currencies 40%