CFTC Chair Seeks to Void $5 Million Settlement with Gemini

According to Odaily, U.S. Commodity Futures Trading Commission (CFTC) Chair Michael Selig stated that enforcement actions during the Biden administration were "politically targeted" against the co-founders of cryptocurrency exchange Gemini, adding that he is pushing to correct the handling of related cases.

Under Michael Selig's leadership, the CFTC last week requested a federal court to void the $5 million settlement the agency reached with Gemini in January 2025. The settlement was finalized before the Donald Trump administration took over the commission.

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