Federal judge dismisses CFTC and Gemini's request to revoke the $5 million settlement agreement

Bitcoin News posted on platform X that U.S. District Judge Alvin Hellerstein dismissed the request from the Commodity Futures Trading Commission (CFTC) and cryptocurrency exchange Gemini to revoke a $5 million settlement agreement related to the proposed Bitcoin futures contracts.

In 2022, the CFTC accused Gemini of making false or misleading statements during the regulatory review of the futures product, and Gemini agreed to settle for $5 million in January 2025. A subsequent internal review by the CFTC found that the original complaint should not have been filed and raised concerns about the credibility of key whistleblowers, the strength of the evidence, and the conduct of investigators; however, the judge ruled that changes in regulatory enforcement priorities and a reevaluation of existing evidence were insufficient to reopen the judgment. The original settlement agreement and permanent injunction remain unchanged.