#us district court

The post ‘Extraordinarily Unusual’ for CFTC to Reverse Gemini Settlement Deal: Ex-chair appeared on BitcoinEthereumNews.com. A former chairman of the US Commodity Futures Trading Commission (CFTC) responded to the agency’s move to vacate a $5 million settlement with cryptocurrency company Gemini. In a Wednesday motion filed in the US District Court for the Southern District of New York, the CFTC joined the Gemini Trust Company in seeking relief from the judgment of a case initially filed in June 2022. The company reached a $5 million settlement with the CFTC in January 2025 while the agency was under former US President Joe Biden. “[T]he CFTC’s action in reversing itself on a settled case is extraordinarily unusual,” Tim Massad, a former CFTC chair and research fellow at Harvard Kennedy School, told Cointelegraph. “The explanation seems to be that the staff got it wrong, not that the law was unclear.” According to the CFTC’s motion, the agency sought relief based on claims that a whist

The post Ex-Celsius CEO Files Motion to Vacate Sentence after Lawyers Withdraw appeared on BitcoinEthereumNews.com. Alex Mashinsky, the former CEO of defunct cryptocurrency lending platform Celsius, has filed a motion in a New York court to vacate his 12-year sentence for fraud and market manipulation.  In a Tuesday filing in the US District Court for the Southern District of New York, Mashinsky filed a motion to vacate his 144-month sentence, set by Judge John Koeltl in May 2025. The former Celsius CEO filed the paperwork without additional counsel, having announced on May 5 that he would be proceeding pro se in his case. Although Mashinsky pleaded guilty to commodities fraud and securities fraud related to “manipulative and deceptive devices,” he filed a motion to vacate on the grounds that he had ineffective counsel and “fruit of [the] poisinous [sic] tree,” a legal doctrine referring to evidence tainted by authorities’ misconduct. “I did not discharge my counsel at this time but th