The U.S. Commodity Futures Trading Commission and Gemini Trust Company LLC jointly moved to vacate the January 6, 2025 consent order that had resolved the agency’s 2022 lawsuit with a $5 million settlement over alleged misrepresentations tied to BTC futures contracts. The CFTC said its review of the investigation, evidence, and charging decision found the complaint should never have been filed and would not have been brought under current enforcement standards. According to the filing, the case relied on a whistleblower account known to lack credibility, pursued Gemini instead of alleged fraudsters, and involved concerns about withheld evidentiary support, use of deliberative process privilege, and improper influence over regulatory authority to create settlement leverage. The parties said the monetary penalty has already been satisfied, but continued enforcement of the remaining injunction would not be equitable or serve the public interest.