The U.S. Securities and Exchange Commission (SEC) has formally sought a 60-day delay from a federal court located in New York. This extension is intended to allow the SEC to further explore the possibility of reaching a settlement in its ongoing legal action against Gemini Trust. 

In 2023, the SEC initiated a lawsuit against Gemini, alleging that the company had engaged in illegal activities that resulted in the generation of billions of dollars through its Gemini Earn program, which was operated in partnership with Genesis. The SEC's request for additional time underscores the complexity of the case and the agency's commitment to thoroughly investigating the circumstances surrounding the allegations.