The U.S. Securities and Exchange Commission and crypto exchange Gemini filed a joint letter requesting a 60-day stay to explore a potential resolution to their legal dispute over Gemini Earn.
The letter, filed with the U.S. District Court for the Southern District of New York on Tuesday, asked the judge to delay "all deadlines" in the SEC's lawsuit against Gemini in January 2023.
In the lawsuit, the securities regulator claimed that the exchange offered and sold unregistered securities via its crypto lending program, Gemini Earn, raising billions of dollars worth of crypto assets.
The joint letter came a month after Gemini co-founder Cameron Winklevoss announced that the SEC had informed the team it had closed its investigation into the exchange and would no longer pursue an enforcement action against the company.
This is part of a wave of the SEC's canceled lawsuits and paused investigations into crypto firms as the agency shifted to a more pro-crypto stance following President Trump's election. The SEC has withdrawn cases against Coinbase, OpenSea, Immutable and others.
Gemini co-founders Cameron and Tyler Winklevoss previously donated $2 million in bitcoin to support Trump's campaign last June, though it was later refunded for exceeding the donation limit.
Earlier in January, the Gemini Trust Company also agreed to pay $5 million to settle a case brought by the U.S. Commodity Futures Trading Commission over misleading statements.
While it moves to resolve its past legal troubles, Gemini is reportedly eyeing an initial public offering to potentially happen this year, according to Bloomberg. In the midst of IPO plans, the crypto exchange also appointed a new chief financial officer last month.
The Block has reached out to Gemini and the SEC for further comment.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
