
Cameron Winklevoss, co-founder of the cryptocurrency exchange Gemini, has publicly criticized the U.S. Securities and Exchange Commission (SEC) following the agency's decision to close its investigation into Gemini without taking enforcement action. Winklevoss has demanded that the SEC reimburse Gemini for three times its legal costs incurred during the investigation. He also called for the dismissal of all SEC lawyers involved in crypto enforcement cases under the Biden administration and for a lifetime ban on former SEC Chairman Gary Gensler from holding any agency position. The SEC's closure of the investigation has been met with mixed reactions, with Winklevoss expressing discontent over the handling of the case and calling for accountability among SEC staff. Paul Grewal, chief legal officer at Coinbase, also weighed in, expressing his disdain for the previous SEC leadership under Gensler.
On social media, Paul Grewal, the chief legal officer for Coinbase, thanked the new leadership and staff at the SEC while expressing his contempt for the Gensler-led regulatory agency. "Goodbye," Grewal said. "And good riddance." https://t.co/D3Rr6GCaRW
Winklevoss, the company’s co-founder and president, penned a long tirade on X, arguing that every SEC lawyer involved in similar crypto enforcement cases should be fired, and former SEC Chairman Gary Gensler should be banned from holding an agency appointment for life. https://t.co/7J02NWLJ3i
The founders of crypto exchange Gemini are calling on the SEC to fire and publicly call out staff members who worked on crypto enforcement cases under the Biden administration as they announced the agency has dropped its investigation into the company. https://t.co/Ba0IuV8FOG