A US federal judge has rejected a joint request by crypto exchange Gemini and the Commodity Futures Trading Commission (CFTC) to overturn a $5 million settlement reached in January 2025. Judge Alvin Hellerstein ruled that changes in CFTC enforcement priorities and allegations of misconduct by its enforcement division did not justify overturning the settlement. Gemini has already paid the $5 million penalty, which the CFTC said would not be refunded even if the settlement were overturned. The ruling leaves intact a permanent injunction barring Gemini from making false or misleading statements to the CFTC.
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