The judge wasn’t having it: Gemini and the CFTC teamed up to try to overturn a $5 million fine from the Biden era, but their request was flatly denied. The Winklevoss twins’ efforts really came to nothing—old compliance issues aren’t so easy to put behind you. The regulatory climate may be changing, but the historical fine remains in effect. Don’t expect a change in administration to wipe the slate clean.

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