Judge refuses to let Gemini and CFTC undo $5 million settlement

A federal court in New York denied a joint request to vacate Gemini's 2025 consent order, leaving the penalty and injunction in place Gemini and the Commodity Futures Trading Commission finally found something to agree on. A federal judge in New York was not persuaded. On October 15, 2026, US District Judge Alvin K. Hellerstein denied a joint motion from Gemini Trust Company and the CFTC to vacate a consent order entered in January 2025. That order carried a $5 million civil monetary penalty and a permanent injunction. Both remain in effect. The case sits in the Southern District of New York. Gemini and the CFTC jointly asked the court to wipe out the consent order that ended their dispute.

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