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The US Securities and Exchange Commission (SEC) has agreed to dismiss its 2023 lawsuit against crypto exchange Gemini and its executives. The suit alleged that Gemini’s “Earn” program illegally raised approximately $1.6 billion from retail investors by offering unregistered securities.
Gemini’s founder, Cameron Winklevoss, confirmed the dismissal on X, stating the 19-month legal battle with the SEC has officially ended. The move comes just days after the SEC dropped a separate case against Coinbase, marking a significant shift in the agency’s regulatory approach to cryptocurrency under the Trump administration.
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