In a seismic shift that’s rocking the financial world, the U.S. crypto industry is no longer playing defense—it’s launching an all-out offensive against the U.S. SEC., fueled by the Trump administration’s sudden crypto-friendly pivot. Just months into Donald Trump’s second term, the SEC has shockingly withdrawn its barrage of lawsuits against major players like Coinbase, Kraken, Gemini, and Uniswap Labs, signaling a dramatic retreat from the regulatory chokehold.
In a stunning turn of events, the Winklevoss twins, founders of crypto exchange Gemini, have launched a scathing attack on the U.S. SEC following the agency's decision to drop its investigation into their company. Cameron Winklevoss, in a fiery statement, not only celebrated the end of the probe but also demanded severe consequences for SEC staff members involved in crypto enforcement cases during the Biden administration.
The New York-based crypto exchange Gemini, owned by the Winklevoss twins Cameron and Tyler, is a New York trust company regulated by the New York State Department of Financial Services (NYSDFS). According to a blog post, Gemini has become Ireland's first exchange for registering as a Virtual Asset Service Provider. In February 2022, the Central Bank of Ireland authorized Gemini to serve as an Electronic Money Institution. However, in the U.S. the CFTC sued the crypto exchange.