The US Securities and Exchange Commission dropped its lawsuit against the Winklevoss twins’ crypto exchange after investors recovered all assets. Regulators cited the full repayment of Gemini Earn customers through the Genesis Global Capital bankruptcy process in 2024. The decision reflects a friendlier crypto stance under President Donald Trump, who backed looser rules and mainstream adoption. The SEC charged Gemini Trust Company and Genesis in 2023 over an unregistered lending program holding $940m. New York authorities later secured a $50m settlement and banned Gemini’s lending operations. Gemini has since listed on Nasdaq and now carries a $1.14bn valuation.
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