SEC drops lawsuit against Winklevoss twins’ Gemini crypto exchange

Group 1 - The SEC has dropped its lawsuit against Gemini, a crypto exchange founded by the Winklevoss twins [1] - The lawsuit was related to the collapse of the Gemini Earn investment product, which left some investors without access to their funds for 18 months [1] - New York Attorney General Letitia James previously sued Gemini in 2023, accusing the company of defrauding investors [2] Group 2 - A recent settlement between New York and Gemini ensures that investors will receive 100% of the crypto assets they loaned through the Gemini Earn program [2] - The dismissal of the SEC's case reflects a broader trend of leniency from the Trump administration towards the crypto industry, with over 60% of crypto lawsuits being dismissed, paused, or penalties reduced since Trump took office [2] - Gemini has filed to go public [3]