New York Settlement Clears the Path
The filing points to a 2024 settlement between Gemini and New York Attorney General Letitia James, who sued the company in 2023, accusing it of defrauding investors.
Under that agreement, investors ultimately recovered “one hundred percent of the crypto assets they had loaned” through Gemini Earn, according to the joint court submission. That outcome, the filing suggests, undercut the need for the federal case to proceed.
Politics and Crypto in the Background
The Winklevoss twins have been donors to Donald Trump’s re-election campaign and have supported business ventures linked to his family, a detail that has drawn attention as the regulatory climate around crypto appears to be shifting.
Observers note that the dismissal fits into a broader pattern. The New York Times has reported that since Trump returned to office last year, the SEC has dismissed, paused or reduced penalties in more than 60% of crypto-related lawsuits that were pending at the time.
