CFTC, Gemini File Joint Motion to Reverse $5M Settlement

Gemini's partnership with SpaceXAI could reshape prediction markets by enhancing user engagement and fostering competitive innovation in the sector. The post Gemini taps SpaceXAI to develop personalized prediction markets feed appeared first on Crypto Briefing.

“The future of AI should be accessible, available, and open to people and builders everywhere, and it should not require an absurd amount of resources only available to a handful of cloud providers,” Paolo Ardoino, CEO, Tether. About 700 million people use generative AIs like Gemini and ChatGPT weekly, but adoption is far from uniform. McKinsey’s 2025 State of AI survey found that nearly half of respondents from companies with more than $5 billion in revenue have reached the AI scaling phase, compared with just 29 percent of those from companies with less than $100 million in revenue, a gap that only widens further down the chain, locking out smaller businesses, developers, and everyday users. Retail and small businesses are limited to basic AI utilities that their facilities can power, such as text-based inference and multimedia generation, using base models. That is billions of end users, and developers locked out of full utilization and development of intelligent software due to hi

The post Samsung Securities Acquires 2% Stake in Upbit Parent Dunamu appeared on BitcoinEthereumNews.com. Key Highlights Samsung Securities will invest nearly $204 million to acquire a 2% stake in Upbit parent company Dunamu. Upbit currently controls over 80% of South Korea’s crypto exchange market and reportedly serves more than 10 million users. The deal comes as South Korea expands crypto regulation and opens the door for greater institutional participation in digital assets. Upbit:- In a major crypto acquisition update, Samsung Securities has announced plans to acquire a 2% stake in Dunamu. Dunamu is the parent company of South Korea’s largest cryptocurrency exchange Upbit. According to local reports and company disclosures, Samsung Securities approved the investment through a board resolution. It will invest approximately 306.3 billion won (around $204 million) to purchase nearly 697,000 shares in Dunamu. The transaction values Dunamu at approximately 15.3 trillion won, or roughly

Three Samsung affiliates — Samsung Securities, Samsung SDS, and Samsung Card — announced on May 28 the combined acquisition of a 4% stake in Dunamu, the operator of South Korea’s dominant crypto exchange Upbit, for approximately 612.8 billion won or $408 million — the latest in a growing wave of South Korean financial institutions racing to secure strategic positions inside the country’s most valuable digital asset company. Related Reading: Worldcoin’s FOMO Rally Cracks After On-Chain Activity Explodes The shares will be purchased from a group of Kakao-affiliated funds including Kakao Investment and Kakao Ventures, at a per-share price of approximately 439,250 won — a valuation implying Dunamu’s total corporate worth at approximately 15.3 trillion won, or roughly $11.1 billion, per Wu Blockchain and Korea Times. Samsung Securities will acquire a 2% stake, while Samsung SDS and Samsung Card will each take 1%, with the transaction scheduled to close June 19, per Korea Times. Three Affili

The post CFTC Moves to Overturn $5 Million Gemini Penalty Following Internal Investigation appeared on BitcoinEthereumNews.com. Key Takeaways Federal regulator requests reversal of Gemini’s $5M civil penalty settlement. Internal review reveals significant evidentiary problems in original case. CFTC and Gemini jointly petition court to vacate settlement provisions. Whistleblower testimony used in case now deemed unreliable by agency. Original enforcement action failed to satisfy updated compliance standards. The Commodity Futures Trading Commission has petitioned a federal judge to dismantle substantial portions of its concluded enforcement action against Gemini Trust Company. This unprecedented request comes after a comprehensive internal examination uncovered fundamental flaws in the investigation’s foundation. The development raises broader questions about how cryptocurrency enforcement actions were previously conducted and evaluated. Federal Agency Reassesses Crypto Enforcement Acti

The post CFTC Says Gemini Lawsuit Should Never Have Been Filed appeared on BitcoinEthereumNews.com. In a joint court filing, both parties asked a federal court to vacate the January 2025 settlement tied to Gemini’s proposed Bitcoin futures contract. The regulator said the original case relied heavily on a whistleblower whose credibility is now being questioned and argued that continuing the settlement’s remaining provisions would not serve the public interest.  CFTC Moves to Undo Gemini Crypto Case The US Commodity Futures Trading Commission (CFTC) now wants to reverse its own enforcement action against crypto exchange Gemini after concluding that the case likely would not have been filed under the regulator’s current standards. In a joint motion that was submitted Wednesday in a Manhattan federal court, both the CFTC and Gemini requested that the court vacate the January 2025 consent order that settled allegations related to Gemini’s proposed Bitcoin futures contract. Earlier this yea

The post CFTC Gemini settlement reopened as crypto enforcement shifts appeared on BitcoinEthereumNews.com. The CFTC Gemini settlement is back in court after a sharp reversal that says as much about shifting crypto policy in Washington as it does about Gemini’s legal fight. On Wednesday, the US Commodity Futures Trading Commission asked a federal court to vacate its $5 million settlement with the crypto exchange, arguing the case should never have been brought under the agency’s current enforcement standards. That is a remarkable turn. Gemini already paid the $5 million fine in January 2025 after the CFTC accused the company of making false or misleading statements tied to a Bitcoin futures contract. Now the same regulator says the complaint was flawed and wants the remaining terms of the deal undone. The filing was made jointly with Gemini in a Manhattan court. Although the money has already changed hands, the bigger immediate issue may be the legal baggage still attached to the case,

The post CFTC asks court to scrap Gemini’s $5M enforcement deal appeared on BitcoinEthereumNews.com. The U.S. Commodity Futures Trading Commission has moved to scrap its $5 million settlement with crypto exchange Gemini after concluding that the enforcement case should not have been filed under the agency’s current standards. Summary The CFTC has asked a federal court to vacate its $5 million settlement with Gemini after concluding the case should not have been filed. Regulators said the original complaint relied heavily on a whistleblower account that lacked credibility. Gemini had settled the case in January 2025 over allegations tied to statements made during the approval process for a Bitcoin futures contract. In a joint motion filed Wednesday in a Manhattan federal court, the CFTC and Gemini asked the court to vacate the January 2025 consent order that resolved allegations tied to Gemini’s proposed Bitcoin futures contract. The regulator said it had reviewed the matter and determi