The CFTC said regulators should never have accused Tyler and Cameron Winklevoss' Gemini Trust Company of making false statements in connection with its bitcoin futures business

The regulator went back to analyze the 2022 case and decided that it wouldn't have been pursued under current management and practices.

The CFTC and Gemini Trust jointly asked a judge to vacate a $5M penalty, with the regulator saying it should never have accused the exchange of false statements.