Gemini Nears Settlement in SEC Lawsuit Over Cryptocurrency Lending Program

The U.S. Securities and Exchange Commission (SEC) is exploring a potential settlement with Gemini Trust Co., the cryptocurrency exchange founded by the Winklevoss twins, over allegations of unregistered crypto asset lending practices. The lawsuit, filed in Southern District of New York, centers on the program known as Gemini Earn. In a joint letter to the court, both Gemini and the SEC have requested a 60-day pause in proceedings while they explore potential resolutions.