Post ContentRead MoreFeedzy
The Commodity Futures Trading Commission (CFTC) sued Gemini Trust Company LLC Thursday on allegations the crypto exchange’s staff misled the federal regulator during Gemini’s 2017 effort to launch trading of what would have been a landmark bitcoin futures contract.
In a 28 page civil suit, the swaps regular accused Gemini, which is owned by the Winklevoss, of providing misleading answers about how easily a bitcoin futures contract’s price could be manipulated during summertime meetings in 2017. It said Gemini’s “false or misleading statements and omissions” happened in in-person meetings.
It alleged Gemini of violating the Commodity Exchange Act and various regulations.
The suit does not specify if the effort was tied to Gemini’s partnership with Cboe to launch the first bitcoin futures contracts at the time.
A spokesperson for the CFTC did not immediately return a request for comment. Gemini did not immediately comment.
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
In the last week, Bitcoin has shown much resilience bouncing back above the $60,000 zone…
Crypto research platform 10x Research recently noted that the Bitcoin Relative Strength has jumped to…
Bitcoin is now at a critical junction, which many determine its price trajectory for the…
Arthur Hayes, the co-founder and former CEO of BitMEX, recently shared his thoughts on the…
The Bitcoin price made a strong comeback on Friday after witnessing a significant amount of…
GBTC, the biggest spot bitcoin ETF, has seen its assets under management lead over BlackRock's…