CFTC charges crypto exchange Gemini over 2017 bitcoin futures case Jun. 02, 2022 3:40 PM ETCBOE, BTC-USDBy: Max Gottlich, SA News Editor tdub303/E+ via Getty Images The Commodity Futures Trading Commission ("CFTC") on Thursday has charged cryptocurrency exchange Gemini over misleading statements in 2017 regarding the attempted launch of what would have been America's first bitcoin (BTC-USD) futures contract. Specifically, Gemini, led by the famed Winklevoss twins, allegedly mislead the federal regulator on "whether the proposed Bitcoin Futures Contract would be readily susceptible to manipulation," according to a release. “Making false or misleading statements to the CFTC in connection with a futures product certification undermines the CFTC’s work to ensure the financial integrity of all transactions subject to the CEA, protect market participants, deter and prevent price manipulation, and promote responsible innovation and fair competition,” said CFTC Acting Director of Enforcement Gretchen Lowe. “This enforcement action sends a strong message that the Commission will act to safeguard the integrity of the market oversight process.” The CFTC did not mention if the effort at the time was linked to Gemini's collaboration with Cboe Global Markets (CBOE) to launch bitcoin (BTC-USD) trading products. Earlier, Gemini said it's slashing 10% of its workforce as "crypto winter" prevails.