The information that emerged during the trial of the Winklevoss twins interested the US Commodity Futures Trading Commission (CFTC). The department began an investigation into the activities of the exchange.
The Winklevoss twins won a lawsuit against former Gemini chief operating officer Ben Small, who accused them of wrongful termination for disclosing information about transactions of Pearl Street Loans, a lender to Gemini.
According to Law360, after trial The CFTC has launched an investigation into the exchange's activities. Details are still unknown.
Small was rightfully fired in 2017 for “gross negligence” in the performance of his duties, the court ruled. Additionally, his actions resulted in millions of dollars in losses for Gemini. Small was ordered to pay legal fees, which the firm estimates to be more than $5 million.
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