The U.S. SEC dismissed a case against the Winklevoss-founded Gemini Exchange after investors in its lending program recovered assets in full. The SEC and Gemini filed to dismiss the case in federal court, citing the return of assets to investors through the Genesis Global Capital bankruptcy process between May and June 2024.

Gemini customers had participated in the Gemini Earn program, loaning crypto assets to Genesis and receiving interest. The total value of the assets was $940 million before Genesis froze customer accounts in November 2022. Unlike other companies, Genesis returned customers’ crypto assets instead of liquidating them after a market crash in 2022.

The SEC’s decision to dismiss the case does not impact its stance on other cases. Gemini, valued at $1.14 billion, had a successful debut on Nasdaq last year, reflecting institutional adoption of digital assets. President Trump’s crypto-friendly approach has led to more favorable rules and mainstream adoption of digital currencies.

Read more at Yahoo Finance: SEC agrees to dismiss case over crypto lending by Winklevoss’ Gemini