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Gemini Trust Co’s Former Senior Executive Cleared of Criminal Charges in US-Related Bitcoin Futures Contract Investigation

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On February 14, according to a court document, the former senior executive of Gemini Trust Co, a crypto exchange, was the subject of a criminal investigation t…

Gemini Trust Co’s Former Senior Executive Cleared of Criminal Charges in US-Related Bitcoin Futures Contract Investigation

On February 14, according to a court document, the former senior executive of Gemini Trust Co, a crypto exchange, was the subject of a criminal investigation that has now ended. The investigation was carried out around the company’s first launch of a US-related Bitcoin futures contract. The focus of this investigation is the core issue of a civil case filed by the United States Commodity Futures Trading Commission (CFTC) in June last year. CFTC accused Gemini of making false and misleading statements when answering questions about futures contracts linked to Bitcoin prices on Gemini’s digital asset trading platform from July to December 2017.

Gemini faces criminal investigation by the prosecution of the United States in the CFTC lawsuit

Interpretation of the news:


Gemini Trust Co, a cryptocurrency exchange, has been in hot water with the United States Commodity Futures Trading Commission (CFTC) since June of last year when the commission filed a civil case against the exchange. The focus of the case was the company’s alleged false and misleading statements about futures contracts linked to Bitcoin prices on Gemini’s digital asset trading platform from July to December 2017.

Recently, it was revealed via court documents that Gemini’s former senior executive was the subject of a criminal investigation in relation to the company’s first launch of a US-related Bitcoin futures contract. However, the investigation has now ended, and the former executive has been cleared of any wrongdoing.

This news is significant for Gemini Trust Co as it may help to alleviate some of the pressure the company has been under in recent months. While the civil case with the CFTC is ongoing, the fact that the former executive has been cleared of criminal charges may show that the exchange is taking steps to address any issues that may have existed in the past.

It is important to note that this news does not necessarily mean that Gemini Trust Co is completely in the clear. The civil case filed by the CFTC is still ongoing, and it remains to be seen how that case will play out.

In conclusion, while the news that Gemini Trust Co’s former senior executive has been cleared of criminal charges related to the company’s US-related Bitcoin futures contract investigation is positive, it is important to keep in mind that the civil case filed by the CFTC remains ongoing. Additionally, this news may help alleviate some of the pressure on the company, but it is unlikely to make the issues disappear altogether.

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