U.S. Judge Rejects Gemini's Appeal to Void $5 Million Settlement Despite CFTC Support

U.S. Federal Judge Alvin Hellerstein rejected a joint request from crypto exchange Gemini and the Commodity Futures Trading Commission (CFTC) to overturn Gemini's $5 million settlement from January 2025. The judge ruled that the CFTC's changed position did not justify undoing the agreement, nor did he accept Gemini's claim of regulatory coercion. Gemini has already paid the $5 million and remains under a court order prohibiting it from misleading the CFTC or publicly denying the settlement's findings. This ruling confirms that a friendlier approach to crypto regulation is not retroactive, even when the regulator and the company agree the judgment should be withdrawn.