SEC Dismisses Case against Cryptocurrency Entity Operated by Trump Backers

On January 23, 2026, the Securities and Exchange Commission (SEC) filed a joint stipulation with Defendant Gemini Trust Company, LLC (hereafter Gemini Trust) to dismiss, with prejudice, the SEC’s pending civil enforcement action against it. The joint stipulation states that the SEC’s decision to request dismissal of the action is “in the exercise of its discretion,” and takes into consideration the “100 percent in-kind return of Gemini Earn investors’ crypto assets,” and the state and regulatory settlements involving Gemini related to the Gemini Earn program.