Gemini Space Station

GEMI

Market cap $555M

“Cultural reform (in the CFTC), which includes rectifying what happened to us, should be the highest priority. I'd like to understand your thoughts on this and how you plan to align with President Trump and the administration's mandate to end the lawfare and make amends for it,” Tyler Winklevoss had sent Brian Quintenz, according to screenshots shared by Quintenz in an X post on Sept.

CFTC chairman Michael Selig said the agency's enforcement action against Gemini was part of a broader campaign against the crypto industry under President Biden. "They politically targeted people like the Winklevoss twins, and that's not acceptable.

A $5 million settlement at the end of the Biden administration became the focus of a lobbying campaign by the billionaire brothers.

Tim Massad, former CFTC commissioner and Harvard senior fellow, joins 'Squawk on the Street' to discuss the decision to withdraw a penalty against Gemini, potential erosions of trust for federal agencies and much more.

The move by the Commodity Futures Trading Commission to vacate a consent order against the cryptocurrency exchange company Gemini Trust is "very unusual," a former CFTC chair told CNBC's "Squawk on the Street" on Thursday. The CFTC on Wednesday asked a judge in federal court in New York to vacate the January 2025 order against Gemini, which included a $5 million penalty and an injunction that barred the company from making false statements to the agency.

Gemini Space Station, Inc. rallied after a $100M Winklevoss Capital investment at a premium $14/share, signaling insider conviction despite ongoing bearish sentiment. The capital raise was per-share accretive (~15%), but the market response was muted, reflecting skepticism about GEMI's underlying fundamentals and growth trajectory. Cost-cutting measures, including a 35% headcount reduction, are on track, but revenue headwinds persist as trading volumes and exchange revenues decline sharply YoY.

The next phase of crypto's public-market pitch is less about token prices and more about financial infrastructure. As trading revenue slows, companies including Coinbase, Robinhood, Circle, Bullish and Gemini are trying to show they can own the systems that issue, trade, settle and record assets.

Gemini Space Station Inc (NASDAQ:GEMI) shares are trading higher on Friday as risk appetite improves across growth-sensitive corners of the market and traders continue to recalibrate after the recent post-earnings surge.

Company announcements in first-quarter earnings showed an urgency to prove they can generate steady revenue even when crypto prices and trading volumes are in a slump. Coinbase and Robinhood have been working for years on diversifying revenue by expanding their suite of financial services.

Gemini Space Station Inc (NASDAQ:GEMI) shares are trading lower Tuesday afternoon as traders fade last week's post-earnings pop. Here's what investors need to know.