🚨 Winklevoss: SEC’s Crypto Crackdown May Be Too Little, Too Late 🚨

Winklevoss Confirms SEC Closes Gemini Probe Without Action

As the snowflakes gently fall upon the frozen tundra of bureaucratic indifference, the U.S. Securities and Exchange Commission (SEC) has finally closed its investigation into the crypto exchange Gemini, a decision announced by co-founder Cameron Winklevoss on February 26.

The SEC concluded that it will not recommend enforcement actions against the firm at this time, adding Gemini to a list of companies that have recently escaped regulatory scrutiny, much like a rabbit slipping through the fingers of a sleepy cat.

On Monday, the SEC informed our litigation counsel @JackBaughman27 that it has closed its investigation into @Gemini and will not be pursuing an enforcement action against us. This comes 699 days after the start of their investigation and 277 days after they sent us a Wells…
— Cameron Winklevoss (@cameron) February 26, 2025

But alas, the damage has already been done, like a careless whisper in the wind. The SEC filed charges against Gemini and Genesis Global Capital in January 2023 for selling securities through the “Earn” program, a move that left the crypto industry reeling like a wounded beast.

Although Winklevoss applauded the outcome of the investigation, he was disappointed with the amount of money Gemini and the whole crypto industry lost because of the SEC’s actions, a bitter pill to swallow.

He noted that the SEC has been very active in going after firms, a relentless drumbeat of regulatory overreach, and as a result, firms have spent millions of dollars on legal fees and the innovation of the firms has been impacted negatively, a stifling of creativity and progress.

The SEC has recently closed investigations into other notable firms, including Coinbase and OpenSea, but Winklevoss cautioned that the damage may already be done, a ship that has sailed, leaving only the echoes of what could have been.

As the former Chair of the SEC, Gary Gensler resigned on January 20, 2025, and Donald Trump started his second term as the president of the United States, a new era of uncertainty dawned, like a faint glimmer of hope on the horizon.

Winklevoss still believes in the future of the new economy, especially calling for regulation to prevent over-regulation in the crypto and other emerging markets, a delicate balance to strike, like a tightrope walker navigating the thin line between freedom and control.

2025-02-27 09:57

🚨 Winklevoss: SEC’s Crypto Crackdown May Be Too Little, Too Late 🚨

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