Gemini · New York · Federal Reserve (FED) · Crypto Briefing
Judge refuses to let Gemini and CFTC undo $5 million settlement
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A federal court in New York denied a joint request to vacate Gemini's 2025 consent order, leaving the penalty and injunction in place.
Key facts
- Judge Hellerstein ruled that the two sides failed to show sufficient grounds for vacatur under Federal Rule of Civil Procedure 60
- The CFTC filed its lawsuit in 2022, alleging that Gemini made false or misleading statements back in 2017
- Hellerstein denied a joint motion from Gemini Trust Company and the CFTC to vacate a consent order entered in January 2025
- A federal court in New York denied a joint request to vacate Gemini's 2025 consent order, leaving the penalty and injunction in place
Summary
Gemini and the Commodity Futures Trading Commission finally found something to agree on. On October 15, 2026, US District Judge Alvin K. Judge Hellerstein ruled that the two sides failed to show sufficient grounds for vacatur under Federal Rule of Civil Procedure 60. The arguments offered for reversal centered on internal CFTC reviews and shifts in digital asset policy.