A federal judge in New York has denied a joint request by Gemini and the U.S. Commodity Futures Trading Commission to vacate their $5 million settlement. The two sides had argued in May that the agreement, reached in January 2025, ran against basic principles of fair enforcement. Judge Alvin Hellerstein said that argument did not provide enough basis to set the settlement aside. He also noted that Gemini had signed the agreement voluntarily three weeks before trial. The ruling leaves the previously reached settlement in place and closes off the parties’ attempt to withdraw it on the grounds presented in their filing.
A federal district judge in New York has denied a joint motion from Gemini and the U.S. Commodity Futures Trading Commission, or CFTC, to vacate their $5 million settlement.
Gemini and the CFTC argued in May that the settlement agreement reached in January 2025 violated basic principles of fair enforcement. Judge Alvin Hellerstein ruled that the argument was not sufficient to support undoing the deal.
Hellerstein also said Gemini had signed the agreement voluntarily three weeks before trial.
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