CFTC Chair Seeks to Scrap $5 Million Gemini Settlement

OdailyOdaily Planet Daily reports that U.S. Commodity Futures Trading Commission (CFTC) Chairman Michael Selig stated that the enforcement actions during the Biden administration "politically targeted" the co-founders of cryptocurrency exchange Gemini, and he is pushing to rectify the handling of the case.

Under the leadership of Michael Selig, the CFTC last week asked a federal court to void the $5 million settlement the agency reached with Gemini in January 2025. The settlement occurred before the Trump administration took over the commission.

Gemini co-founders Tyler Winklevoss and Cameron Winklevoss each donated $1 million to Donald Trump's 2024 campaign and have attended White House events, including the signing ceremony for the stablecoin-related GENIUS Act. (cointelegraph)