Gemini accused the Commodity Futures Trade Commission (CFTC) staff of weaponizing the Commodity Exchange Act (CEA) for more than seven years based on “fabricated” statements and unfair weapons.
Gemini Grand Slam DOE employee behavior
Last week, the Gemini Trust sent a letter to the Commission on Commodity Futures Trade Commission Inspector General Christopher Skinner to raise multiple concerns and complaints about the agency’s actions over the past seven years against the cryptocurrency exchange’s law enforcement (DOE).
The June 13 letter accused U.S. Department of Energy staff “selectively and unfairly” of “proposing suspicious statements against the Gemini Trust” and “take a range of legal positions that violate the fundamental principles of due process and good governance.”
Gemini's letter to Inspector General Skinner. Source: Eleanor Terret on X
In 2022, the CFTC sued Gemini, claiming that the exchange issued “false and misleading statements” concerning its 2017 campaign to market manipulate Bitcoin (BTC) prices. The complaint said the cryptocurrency exchange said the company evaluated CFTC’s deceptive information because it evaluated possible self-certification of the BTC Futures contract.
In January 2025, the Gemini Trust agreed to pay $5 million to the CFTC to resolve these allegations. However, it claimed in a letter Friday that it did not resolve because it did something wrong, but “because there was no choice at the time.”
Gemini claims that the agency’s work over the past seven years has shown that its “trophy laws” were not inspired by a desire to protect the commodity market. Instead, it is said to be driven by DOE personnel “selfish desire to promote the selfishness of careers through misuse of offices.”
Additionally, the company believes that DOE ignores the fact that Gemini Trust victim According to reports, multiple bad actors’ frauds were reportedly reported as “whistleblower of behavior reporting” filed by a discredited former employee, former CPO Benjamin Small originated from his “fighting campaign” after his dismissal.
Based on this, the letter claimed that U.S. Department of Energy staff had been ill-treated by their offices and were willing to burn millions of dollars in taxpayer funds to sue “innocent political parties” and “pursuing fabricated and fabricated claims against Gemini Trusts.”
CFTC recovery regulations clarity
The crypto exchange also claimed that “the question of what the meaning of doe and its culture are”, adding that the department is known to be “out of control” with a “toxic” philosophy.
They believe that public statements and remarks by CFTC Acting Chairman Caroline Pham show how DOE is “lost”. Recently, she criticized the former administration’s “law enforcement regulations” approach, affirming that the agency is working to restore regulatory clarity.
According to Bitcoiners, Pham blasted the Securities and Exchange Commission and the CFTC’s previous reinterpretation of existing laws to persecute departments they consider “bad” or “evil”, such as cryptocurrency and blockchain technology.
The agency’s acting chair claims that the CFTC will no longer “distort the law to criminalize asset classes or technology”, but instead focus on its “core mission” to capture bad actors and prevent fraud, manipulation and fraud in the market.
But, she clarified that despite the agency’s adoption of new pro-company innovative approaches, regulations are not easy in the cryptocurrency industry or anyone else. Therefore, “restoring carefully resolved legal precedents, how the law has been applied and interpreted for decades” is a priority under her leadership.
The Gemini Trust concluded in the letter that the transformation of the CFTC “will require serious introspection and long-term commitment from the entire agency to ensure that this bad faith act will never happen again and proposes “assisting the committee and inspector general with whatever capacity they think it will be helpful.” ”
Bitcoin trades at $105,048 in the one-week chart. Source: BTCUSDT on TradingView
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