Key Takeaways
- The SEC has ended its investigation into Gemini with out prices.
- Cameron Winklevoss calls for the SEC reimburse authorized prices and fireplace concerned employees.
- The SEC has additionally dropped investigations into Uniswap, Robinhood Crypto, and OpenSea.
The U.S. Securities and Trade Fee (SEC) has formally closed its investigation into Gemini, a New York-based Bitcoin change, with out submitting any prices.
Gemini co-founder and president Cameron Winklevoss introduced the event on Wednesday, criticizing the company’s dealing with of the probe and demanding repercussions for these concerned.
Winklevoss’s criticism
In a put up on X, Winklevoss said that the SEC’s determination “does little to make up for the harm” inflicted on Gemini, the trade, and the U.S. economic system.
He estimated that the investigation value Gemini “tens of thousands and thousands” in authorized charges and “lots of of thousands and thousands” in misplaced productiveness and innovation.
On Monday, the SEC knowledgeable our litigation counsel @JackBaughman27 that it has closed its investigation into @Gemini and won’t be pursuing an enforcement motion towards us. This comes 699 days after the beginning of their investigation and 277 days after they despatched us a Wells… pic.twitter.com/dTjg9CJXVl
— Cameron Winklevoss (@cameron) February 26, 2025
Name for accountability
Winklevoss referred to as for strict penalties, proposing that companies initiating investigations with out clear rules ought to reimburse defendants at thrice their authorized prices.
He additionally demanded that SEC workers concerned within the Gemini probe be publicly fired, with their names and roles listed on the SEC web site.
Different investigations dropped
The SEC has lately dropped related investigations into Uniswap Labs, Robinhood Crypto, and OpenSea.
Moreover, it has moved to pause litigation towards the Tron Basis, Justin Solar, Coinbase, and Binance. The company didn’t reply to requests for remark.