The SEC approved Gemini’s $40 million contribution for the recovery of Gemini Earn investors’ assets lost in the Genesis bankruptcy. The lawsuit against Gemini and Genesis was dismissed with prejudice after a joint stipulation. The SEC paused the action in April 2024 under then-acting chairman Mark Uyeda. Genesis agreed to a $21 million fine.

Gemini’s case is one of many dropped by US government agencies since the Trump administration took over in January 2025. Cases involving Binance, Kraken, Uniswap, Immutable, and Robinhood have also been dismissed. The Department of Justice dropped its insider trading case against a former OpenSea senior manager after a federal appeals court reversal.

Read more at Cointelegraph: SEC Drops Civil Action Over Gemini’s Lending Program