{"id":62375,"date":"2022-06-02T20:16:56","date_gmt":"2022-06-02T17:16:56","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=62375"},"modified":"2025-09-05T17:32:13","modified_gmt":"2025-09-05T14:32:13","slug":"cftc-sues-gemini-the-winklevoss-twins-cryptocurrency-exchange","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/cftc-sues-gemini-the-winklevoss-twins-cryptocurrency-exchange\/","title":{"rendered":"CFTC Sues Gemini, the Winklevoss Twins\u2019 Cryptocurrency Exchange"},"content":{"rendered":"<p>The US Commodity Futures Trading Commission (CFTC) has filed suit against the cryptocurrency exchange Gemini. The suit alleges that the company &#8220;misled the regulator by answering questions about a Bitcoin-price-linked futures contract on Gemini&#8217;s platform,&#8221; Bloomberg reports.<\/p>\n<p>According to the agency, the suit was filed in federal court in Manhattan. The document states that between July and December 2017, during meetings with CFTC staff, the company\u2019s representatives &#8220;made false and misleading statements&#8221; regarding the platform&#8217;s activities and the Gemini Bitcoin Auction product.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;This Bitcoin-based futures contract was of particular significance because it was set to become one of the first futures on digital assets to be listed on a market created specifically by the contract, while investors showed strong interest in accessing Bitcoin through derivatives markets,&#8221; the CFTC said in the complaint.<\/p>\n<\/blockquote>\n<p>The Gemini Bitcoin Auction price-determination mechanism <a href=\"https:\/\/www.gemini.com\/blog\/cboe-and-gemini-to-launch-first-ever-bitcoin-futures-contract-ticker-xbt\">\u0438\u0441\u043f\u043e\u043b\u044c\u0437\u043e\u0432\u0430\u043b\u0441\u044f<\/a> in settlement futures on Bitcoin at the Chicago Board Options Exchange (CBOE) when the product launched in 2017.<\/p>\n<p>In 2019, amid a bear market and competition with CME, the platform removed this instrument from listing.<\/p>\n<p>Earlier in May 2022, CFTC Commissioner Caroline Pham <a href=\"https:\/\/forklog.com\/en\/news\/cftc-commissioner-compares-cryptocurrencies-to-lottery-tickets\">compared cryptocurrencies to lottery tickets<\/a>.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news on our <a href=\"\/\/telegram.me\/forklog\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The US Commodity Futures Trading Commission (CFTC) filed suit against the cryptocurrency exchange Gemini. The suit alleges that the company &#8216;misled the regulator by answering questions about a Bitcoin-price-linked futures contract on Gemini&#8217;s platform.&#8217;<\/p>\n","protected":false},"author":1,"featured_media":62376,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[879,1162,719],"class_list":["post-62375","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cftc","tag-court-cases","tag-gemini"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/62375","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=62375"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/62375\/revisions"}],"predecessor-version":[{"id":62377,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/62375\/revisions\/62377"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/62376"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=62375"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=62375"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=62375"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}