SEC drops lawsuit against Winklevoss twins’ Gemini crypto exchange

The U.S. Securities and Exchange Commission (SEC) has withdrawn its lawsuit against Gemini, the cryptocurrency exchange founded by the Winklevoss twins, Cameron and Tyler Winklevoss. The SEC had previously filed the lawsuit, alleging that Gemini's crypto lending program, Gemini Earn, was an unregistered security. However, the SEC has now decided to drop the case, signaling a potential shift in the regulatory landscape for cryptocurrency platforms. The Winklevoss twins, who are known for their involvement in the early days of Facebook and their subsequent legal battle with Mark Zuckerberg, have been vocal supporters of Donald Trump and have been involved in the cryptocurrency industry for several years. The withdrawal of the lawsuit is seen as a positive development for the crypto industry, as it suggests that the SEC may be taking a more measured approach to regulating the rapidly evolving digital asset market. The outcome of this case could have significant implications for the future of cryptocurrency regulation in the United States.