CFTC Sues Gemini Over Bitcoin Futures Misinformation Crypto exchange Gemini Trust Co. has been sued by the Commodity Futures Trading Commission (CFTC) over a Bitcoin Futures Case from 2017. Gemini Sued Over Misinformation The crypto exchange, founded by the Winklevoss twins, has been accused of launching the first US-regulated Bitcoin futures contract by misleading the CFTC, which has filed a lawsuit in federal court in Manhattan, seeking to impose fines on the exchange, along with trading and registration bans. CFTC Acting Director of Enforcement Gretchen Lowe commented on the matter, “Making false or misleading statements to the CFTC in connection with a futures product certification undermines the CFTC’s work to ensure the financial integrity of all transactions subject to the CEA, protect market participants, deter and prevent price manipulation, and promote responsible innovation and fair competition. This enforcement action sends a strong message that the Commission will act to safeguard the integrity of the market oversight process.” Charges Against Gemini The regulator claimed that in 2017, Gemini had made false and misleading statements about the preventative measures it was taking to ward off Bitcoin price manipulation for their product - Bitcoin-based derivatives.