Trending Now - CFTC Chair Alleges Political Bias in Gemini Settlement Reversal Effort

WHO:

Cointelegraph - CFTC chair Michael Selig

Cointelegraph - Gemini, founded by Cameron and Tyler Winklevoss

Techmeme - Biden administration

WHAT:

Cointelegraph - The CFTC chair seeks to roll back a $5 million settlement against Gemini.

Techmeme - The CFTC motioned to vacate a 2025 order against the exchange.

WHERE:

Cointelegraph - The enforcement action pertains to Gemini, a cryptocurrency exchange.

WHEN:

Techmeme - The CFTC motioned to vacate the order a week prior to the article's publication.

WHY:

Cointelegraph - The CFTC chair claims the enforcement action was politically motivated.

Techmeme - Michael Selig stated that Gemini was a victim of Biden-era political targeting.

HOW:

Techmeme - The CFTC is correcting what it describes as a flawed enforcement action against Gemini.

(UPDATED June 2, 2026 20:12 UTC)

The chair of the Commodity Futures Trading Commission, Michael Selig, is seeking to roll back a $5 million settlement against the cryptocurrency exchange Gemini, which was founded by Cameron and Tyler Winklevoss. Selig claims that the enforcement action was politically motivated and that Gemini was a victim of targeting during the Biden administration, prompting the CFTC to motion to vacate a 2025 order against the exchange. This move is part of the CFTC's effort to correct what it describes as a flawed enforcement action.