Gemini Trust Company, led by Cameron and Tyler Winklevoss, has agreed to pay 5 million USD to settle charges from the U.S. Commodity Futures Trading Commission (CFTC). This settlement comes as part of a proposed consent order, without Gemini admitting or denying the allegations concerning misleading statements made to the regulator.

The CFTC accused Gemini of making false statements regarding its BTC futures contract during evaluations between July 2017 and December 2017. Gemini refutes these claims, arguing the contract and reference price were reliable with no incidences of manipulation. A pre-trial conference is scheduled for January 13, 2025, with the trial expected to begin on January 21.