According to a post by Cameron Winklevoss, co-founder and CEO of Gemini, on social media, the U.S. Securities and Exchange Commission (SEC) has informed the exchange that it has halted its investigations and has no intention of bringing any charges against the company. However, this unexpected conclusion did not satisfy Winklevoss. He wrote that the SEC’s retreat ‘cannot compensate for the damage that this institution has caused to us, our industry, and the U.S. economy.’ Winklevoss emphasized that if the consequences of SEC’s actions against Gemini and other crypto companies are not considered, other government entities may target the industry in the future and then easily retreat. He further suggested that any agency initiating investigations or legal actions against companies without clear rules should compensate three times the legal costs of the companies. Winklevoss also called for the public dismissal of all SEC employees involved in the investigations against Gemini and stated that their names, positions, and actions should be disclosed on the SEC website. SEC’s decision to close the Gemini case follows similar halts in investigations against Uniswap, Robinhood, and OpenSea. Additionally, on Thursday, SEC filed a joint request to halt the legal action against the Tron Foundation and Justin Sun, similar to recent actions taken in the Binance and Coinbase cases. You can monitor the real-time prices of all tokens and cryptocurrencies on the digital currency price page.
