CFTC Moves to Overturn $5 Million Gemini Penalty Following Internal Investigation

Gemini's partnership with SpaceXAI could reshape prediction markets by enhancing user engagement and fostering competitive innovation in the sector. The post Gemini taps SpaceXAI to develop personalized prediction markets feed appeared first on Crypto Briefing.

“The future of AI should be accessible, available, and open to people and builders everywhere, and it should not require an absurd amount of resources only available to a handful of cloud providers,” Paolo Ardoino, CEO, Tether. About 700 million people use generative AIs like Gemini and ChatGPT weekly, but adoption is far from uniform. McKinsey’s 2025 State of AI survey found that nearly half of respondents from companies with more than $5 billion in revenue have reached the AI scaling phase, compared with just 29 percent of those from companies with less than $100 million in revenue, a gap that only widens further down the chain, locking out smaller businesses, developers, and everyday users. Retail and small businesses are limited to basic AI utilities that their facilities can power, such as text-based inference and multimedia generation, using base models. That is billions of end users, and developers locked out of full utilization and development of intelligent software due to hi

The post CFTC Says Gemini Lawsuit Should Never Have Been Filed appeared on BitcoinEthereumNews.com. In a joint court filing, both parties asked a federal court to vacate the January 2025 settlement tied to Gemini’s proposed Bitcoin futures contract. The regulator said the original case relied heavily on a whistleblower whose credibility is now being questioned and argued that continuing the settlement’s remaining provisions would not serve the public interest.  CFTC Moves to Undo Gemini Crypto Case The US Commodity Futures Trading Commission (CFTC) now wants to reverse its own enforcement action against crypto exchange Gemini after concluding that the case likely would not have been filed under the regulator’s current standards. In a joint motion that was submitted Wednesday in a Manhattan federal court, both the CFTC and Gemini requested that the court vacate the January 2025 consent order that settled allegations related to Gemini’s proposed Bitcoin futures contract. Earlier this yea

The regulator filed alongside the crypto exchange to undo a 2025 consent order it now says "should not have been filed."

The post CFTC Gemini settlement reopened as crypto enforcement shifts appeared on BitcoinEthereumNews.com. The CFTC Gemini settlement is back in court after a sharp reversal that says as much about shifting crypto policy in Washington as it does about Gemini’s legal fight. On Wednesday, the US Commodity Futures Trading Commission asked a federal court to vacate its $5 million settlement with the crypto exchange, arguing the case should never have been brought under the agency’s current enforcement standards. That is a remarkable turn. Gemini already paid the $5 million fine in January 2025 after the CFTC accused the company of making false or misleading statements tied to a Bitcoin futures contract. Now the same regulator says the complaint was flawed and wants the remaining terms of the deal undone. The filing was made jointly with Gemini in a Manhattan court. Although the money has already changed hands, the bigger immediate issue may be the legal baggage still attached to the case,

The post Pennsylvania Seeks Injunction Against AI Maker Whose Chatbot Brazenly Claims To Be A Psychiatrist Licensed To Practice Medicine appeared on BitcoinEthereumNews.com. Interesting question of whether an AI chatbot went over-the-line by claiming to be a psychiatrist. getty In today’s column, I examine a recent court filing seeking an immediate injunction to prevent an AI maker from allowing its generative AI or large language model (LLM) to claim it is a psychiatrist licensed to practice medicine. Pennsylvania has filed this quite noteworthy lawsuit. They are doing so against the popular Character.AI and are asking the courts to stop the company Character Technologies from allowing its AI to seemingly make false claims about being a psychiatrist. This is the latest state-level step to put a dent in the unbridled permitting of AI giving out mental health advice that is wildly over-the-line. Let’s talk about it. This analysis of AI breakthroughs is part of my ongoing Forbes column c

The post CFTC asks court to scrap Gemini’s $5M enforcement deal appeared on BitcoinEthereumNews.com. The U.S. Commodity Futures Trading Commission has moved to scrap its $5 million settlement with crypto exchange Gemini after concluding that the enforcement case should not have been filed under the agency’s current standards. Summary The CFTC has asked a federal court to vacate its $5 million settlement with Gemini after concluding the case should not have been filed. Regulators said the original complaint relied heavily on a whistleblower account that lacked credibility. Gemini had settled the case in January 2025 over allegations tied to statements made during the approval process for a Bitcoin futures contract. In a joint motion filed Wednesday in a Manhattan federal court, the CFTC and Gemini asked the court to vacate the January 2025 consent order that resolved allegations tied to Gemini’s proposed Bitcoin futures contract. The regulator said it had reviewed the matter and determi

The U.S. Commodity Futures Trading Commission has moved to scrap its $5 million settlement with crypto exchange Gemini after concluding that the enforcement case should not have been filed under the agency’s current standards. In a joint motion filed Wednesday…