The SEC dropped its lawsuit against the Winklevoss twins’ crypto exchange after investors fully recovered assets from the Gemini Earn program.
Regulators cited the complete return of crypto through the Genesis Global Capital bankruptcy between May and June 2024.
The decision reflects a more industry-friendly SEC approach under President Donald Trump.
Trump reversed stricter crypto enforcement policies and promoted broader digital currency adoption.
In 2023, the SEC accused Gemini and Genesis of illegally selling securities through a crypto lending program.
Genesis later returned customer assets in full, avoiding liquidation.
Gemini is now valued at $1.14bn following a strong Nasdaq debut.
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