U.S. Federal Judge Rejects Gemini and CFTC Joint Request to Vacate 5000000 USD Consent Order

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【U.S. Federal Judge Rejects Gemini and CFTC Joint Request to Vacate 5000000 USD Settlement Agreement】

A federal judge in New York rejected a joint application filed by the U.S. Commodity Futures Trading Commission (CFTC) and cryptocurrency trading platform Gemini. The parties had previously requested that the court vacate a consent order issued in 2025 year January, which required Gemini to pay 5000000 USD in civil penalties and imposed a permanent injunction against it. On Thursday, Alvin Hellerstein, a judge of the U.S. District Court for the Southern District of New York, rejected the joint application, stating that the parties’ reasons were insufficient to support reopening the case. The consent order arose from litigation filed by CFTC in 2022 year.CFTC alleged that Gemini made false or misleading statements concerning material facts to agency personnel while the regulator was reviewing proposed bitcoin futures contracts. The consent order was reached 3 weeks before the scheduled start of trial and required Gemini to pay 5000000 USD in civil penalties, which the trading platform has paid in full. The order also permanently prohibited Gemini from making false or misleading statements to CFTC or concealing relevant information.

Key points

Judge Alvin Hellerstein of the U.S. District Court for the Southern District of New York rejected the joint application submitted by CFTC and Gemini.
The parties had previously requested the revocation of 2025 year January consent order.
The consent order required Gemini to pay 5000000 USD in civil penalties and imposed a permanent injunction against it.
Gemini has completed payment of the 5000000 USD penalty.
The permanent injunction prohibits Gemini from making false or misleading statements to CFTC or concealing relevant information.
The consent order arose from litigation filed by CFTC in 2022 year.
CFTC It alleged that Gemini made false or misleading statements concerning material facts while the regulator was reviewing proposed bitcoin futures contracts.

AI-assisted interpretation

The following is analysis, separate from reported facts. Verify important claims independently.

The court did not accept the parties’ request to vacate the original consent order, so the original penalty and permanent injunction remain in effect as described in the evidence.

Why it matters to readers

This indicates that the 5000000 USD penalty paid by Gemini and the permanent injunction were not vacated as a result of the joint application.

A consent order is a court order accepted by the parties that must be complied with; a permanent injunction means that the relevant restrictions remain in effect.

Risks and unknowns

The evidence does not provide the full text of the court’s ruling or the original ruling document.
The evidence does not state whether Gemini or CFTC will appeal or seek other relief.
The evidence does not state how the permanent injunction will subsequently be enforced or whether any compliance disclosure exists.

U.S. Federal Judge Rejects Gemini and CFTC Joint Request to Vacate 5000000 USD Consent Order

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