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Gemini, SEC reach tentative settlement in Earn program row
GameFi Guides

Gemini, SEC reach tentative settlement in Earn program row

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Gemini has struck a tentative deal with the U.S. Securities and Exchange Commission, potentially ending a high-profile lawsuit over its Earn lending program.

Summary

  • Gemini and SEC reach tentative settlement over Earn lending program.
  • Settlement follows Genesis’ bankruptcy, which froze $900M in customer assets.
  • Announcement comes days after Gemini’s $425M IPO and strong market debut.

According to a recent court filing in Manhattan federal court, lawyers for both the SEC and Gemini, now operating as Gemini Space Station, said they had reached a settlement “in principle” to resolve the lawsuit tied to Gemini Earn fully. 

The filing asked U.S. District Judge Edgardo Ramos to pause deadlines until Dec. 15 while the parties finalize paperwork. Neither Gemini nor the SEC provided immediate comment. The development was disclosed in a Sept. 16 report by Reuters.

Gemini Earn dispute and fallout from Genesis

Gemini Earn allowed customers to lend Bitcoin (BTC) and other cryptocurrencies to Genesis Global Capital in exchange for interest, with Gemini collecting fees of up to 4.29%. At its peak, the program attracted hundreds of thousands of users.

Trouble began in Nov. 2022, when Genesis froze withdrawals after FTX’s collapse. By January 2023, Genesis filed for bankruptcy, leaving $900 million in customer assets stranded from roughly 340,000 Gemini Earn users.

The SEC sued Gemini and Genesis that same month, claiming they sidestepped disclosure rules designed to protect investors. While Genesis later paid a $21 million penalty to settle without admitting wrongdoing, Gemini continued to contest the allegations.

The tentative agreement now signals an end to that standoff, although final terms remain subject to SEC approval.

IPO timing and shifting regulatory climate

The news comes just days after Gemini completed its initial public offering, raising $425 million at a valuation of $3.3 billion. Shares have since climbed to $32.52, 16% above their $28 debut price. The timing underscores how

Gemini is attempting to turn the page on its Earn controversy while positioning itself as a publicly traded exchange in a climate of lighter regulatory touch.

Since Donald Trump took office in Jan. 2025, the SEC has eased its oversight of the crypto sector, reflecting a broader policy shift that has benefited firms like Gemini. For co-founders Tyler and Cameron Winklevoss, each now worth an estimated $4.6 billion, the settlement could help clear a major overhang just as the exchange embarks on its next phase of growth.



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The Boss looks surprised, while a body lies on the floor in the background
Product Reviews

Saints Row 2’s Juiced Patch makes the PC port so much better it’s criminal

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The definitive way to play Saints Row 2 in 2025 – YouTube

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I have to admit I played Saints Row 2 on Steam unmodded, all the way through, twice. So if you tell me it’s “unplayable” without a fan patch I’m going to do that thing where I raise one eyebrow at you. Did the PC port have problems, though? Oh, hell yes.

Cutscenes were wonky as all get-out, with characters not appearing where they were supposed to (if at all), and sometimes sliding into or out of frame as if they were on rollerskates. Cutscene audio often crackled, making dialogue sound cheap and staticky. There were graphical problems too, with resolution options I would charitably call “limited” and water that turned black at a distance. It wasn’t a great port, it was just a great enough game that I could overlook those and other flaws.

There have been multiple attempts to improve Saints Row 2’s PC port over the years, and the latest is the most impressive. Called Saints Row 2 Juiced, it fixes all the problems I mentioned in the previous paragraph and more. For example, it adds more than 30 animations that were included in console versions but not on PC, which will make you look much cooler while you’re shooting a minigun or running with the rocket launcher equipped. Another change copied over from the console is the Xbox 360 version’s better gamma settings.


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The big visual improvement is an optional one you’ll have to look through the menu to find. VanillaFXPlus is a lighting overhaul that disables Saints Row 2’s filter and makes colors more high-contrast and vibrant. I can see some people preferring the classic look, but I’m into the new visuals. I’m also into the option to keep a weapon equipped if you run out of ammo instead of immediately swapping back to the cane or whatever by default.

You can check out a fuller list of fixes on the Juiced Patch Github page. Apparently the multiplayer is working again too. There’s another reason to be excited about it, though. The upcoming Saints Row 2 DLC Port Project, which will require the Juiced Patch to run, will bring Saints Row 2’s console-exclusive DLC to PC at last. Ultor Exposed, Corporate Warfare, and The Unkut Pak added more missions, vehicles, and customization options I have been waiting like 15 years for. Bring it on.



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The Bluesky app logo appears on the screen of a smartphone lying on a laptop keyboard
Gaming Gear

Bluesky exits Mississippi over age verification row

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  • Bluesky has decided to exit Mississippi in response to the new age verification law
  • Under the law, social media platforms need to verify all users’ ages before granting them access
  • People in Mississippi may be able to keep accessing Bluesky by spoofing their IP address with a VPN

Bluesky has decided to exit Mississippi in response to the new age verification law, which now requires social media platforms to verify the age of every user before granting them access.

Elon Musk’s X rival warns that the new requirements “would fundamentally change how users access Bluesky,” while opening up to privacy and security challenges that would impact smaller providers in particular.

Therefore, starting Friday, August 22, 2025, Bluesky is blocking all traffic from Mississippi IP addresses. This, however, means that users based in the state may be able to turn to the best VPN services to keep using the app.


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“We do not take this decision lightly,” wrote Bluesky in its official announcement, while ensuring that child safety remains a core priority. Yet, “We think this law creates challenges that go beyond its child safety goals, and creates significant barriers that limit free speech and disproportionately harm smaller platforms and emerging technologies.”

Being a decentralized platform, the block applies only to the Bluesky app built on the AT Protocol. “Other apps and services may choose to respond differently,” explains the provider.

Why is Bluesky worried about Mississippi’s age verification approach?

As per Mississippi’s HB1126 law, which was upheld by the US Supreme Court on August 14, all social media platforms must verify that every user accessing the platform is over 18 and obtain parental consent for all minors looking to use the app.

The law also requires tech providers to identify and keep track of all teen and child users. Fines for non-compliance can reach up to $10,000 per user.

“Building the required verification systems, parental consent workflows, and compliance infrastructure would require significant resources that our small team is currently unable to spare as we invest in developing safety tools and features for our global community,” explains Bluesky.

The economic burden is only half of the story, though.

Bluesky is also concerned that the “law’s broad scope” could affect all citizens in Mississippi (not only minors) to use their favorite platforms, negatively impacting their right to free speech and access to information.

The provider also warns against the privacy implications that could stem from collecting and storing such sensitive information about all users, as well as from tracking minors online.

Unfortunately, Bluesky is unavailable in Mississippi right now, due to a new state law that requires age verification for all users.
While intended for child safety, we think this law poses broader challenges & creates significant barriers that limit free speech & harm smaller platforms like ours.

— @bsky.app (@bsky.app.bsky.social) 2025-08-26T14:19:50.674Z

Age checks aren’t the real issue here, either. Bluesky was indeed one of the first providers to enforce age verification rules in the UK.

Yet, there’s a substantial difference between the two laws.

Under the UK Online Safety Act, Bluesky and similar providers are required to verify users’ age only for accessing content deemed legal but harmful.

“Mississippi’s law, by contrast, would block everyone from accessing the site – teens and adults – unless they hand over sensitive information, and once they do, the law in Mississippi requires Bluesky to keep track of which users are children,” explains the provider.

Can a VPN help?

(Image credit: Getty Images)

The Bluesky app is now set to block access to all Mississippi IP addresses “until legal challenges to this law are resolved,” explains the provider.

A virtual private network (VPN), however, could help you get back online. A VPN is security software that not only encrypts all your internet connections but also spoofs your IP address by rerouting your traffic via one of its international servers.

Therefore, if you’re in Mississippi and want to keep accessing Bluesky, all you need to do is connect to a VPN server based where the app is available.

Remember, though, to use only reliable and secure services to ensure your data stays safe. At the time of writing, NordVPN is TechRadar’s top recommendation. If you aren’t willing to pay for a subscription just yet, I suggest checking our best free VPNs guide, with PrivadoVPN and Proton VPN being today’s top picks.

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