The Winklevoss twins’ Gemini Trust Co. agreed to pay $5 million to end a Commodity Futures Trading Commission claim that it misled the derivatives regulator in a bid to launch the first US-regulated Bitcoin futures contract.

Crypto exchange Gemini, founded by Tyler and Cameron Winklevoss, has agreed to pay a $5 million civil penalty to end a CFTC lawsuit.

The CFTC sued Gemini in 2022 for making false and misleading statements related to a bitcoin futures contract it sought to launch.

The Gemini Trust Co. LLC, the New York-based cryptocurrency exchange founded by the Winklevoss twins in 2014, has agreed to pay a $5 million civil penalty to settle a lawsuit filed by the U.S. Commodity Futures Trading Commission over allegedly misleading statements it made about how easily the price of bitcoin futures could be manipulated.

Gemini agrees to pay $5 million to settle CFTC lawsuit over misleading Bitcoin futures claims, amidst ongoing legal battles.