SEC dismisses lawsuit against Gemini over Earn after Genesis repayments

The Securities and Exchange Commission dismissed its lawsuit against Gemini, the crypto exchange backed by billionaire Winklevoss twins, over the Earn product.

The SEC said Gemini Earn customers had already received 100% of their assets back through Genesis' bankruptcy, and that fact warranted dismissal of the case.

The agency tied the decision to the asset repayments; the statement did not include further details about next steps.

Key Topics

Crypto, Gemini, Gemini Earn, Sec, Genesis, Winklevoss Twins