| SDNY COURTHOUSE, Feb 13 –The Commodities Futures Trading Commission sued Gemini for false statements in its self-certification to sell bitcoin futures contacts. Now there are discovery disputes. On February 13, 2023 U.S. District Court for the Southern District of New York Judge Alvin K. Hellerstein held a discovery proceeding. Inner City Press went and covered it. Thread here:
OK- in crypto case of CFTC v Gemini, discovery demand by Gemini on whether its (false) statements to CFTC were material. US v Nedder cited.
CFTC counsel: There were statements both written and oral by Gemini. Judge: I may also discovery on the oral statements, if they say they were influenced. CFTC: It's hard to parse. Judge: No it's not.
Gemini's lawyer: They have to produce evidence. Materiality is a mixed question of law and fact- Judge: The Supreme Court has said that, yes. But I'm not sure of the application. CFTC cites US v Gaudin 515 US 506.
Gemini's lawyer: Respectfully, the Court is denying Gemini a right to defend itself- Judge: Maybe you don't have a defense
Gemini's lawyer: THis is a jury trial- Judge: I know you've asked for one. But if there are no question of fact, maybe no jury trial.
Now CFTC asks for and gets 3 week to get Commission approval to invoke privilege.... |