The U.S. Securities and Exchange Commission (SEC) has dismissed its lawsuit against Gemini Trust Company following the full repayment of investors in the Gemini Earn program. The dismissal, filed on January 23, 2026, concludes a significant enforcement action that began after the 2022 market downturn and the subsequent withdrawal freeze by Genesis Global Capital. Investors were fully reimbursed in-kind for their crypto holdings between May and June 2024, a key factor in the SEC's decision to end litigation. The SEC's lawsuit, initiated in early 2023, alleged that Gemini and Genesis unlawfully offered unregistered securities through the Earn program. However, the full recovery of assets through Genesis's bankruptcy proceedings led the SEC to deem further enforcement unnecessary. Despite the dismissal, the SEC emphasized that this decision is specific to the Gemini case and does not signal a broader change in its regulatory stance on crypto lending products. The resolution of this case marks a significant milestone for Gemini, which has been working to rebuild its reputation and expand its services. The company recently received approval from the Commodity Futures Trading Commission (CFTC) to operate prediction markets, indicating ongoing regulatory engagement and potential for growth in the digital asset space.