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Crypto exchange Gemini announces plans to cut the workforce by 10%. The announcement coincided with news of the US CFTC suing Gemini.
Gemini Trust Company, LLC (Gemini) is an American cryptocurrency exchange and custodian bank.It was founded in 2014 by Cameron and Tyler Winklevoss. [4] [5] [6]In 2023, the company, along with two others, was sued by the New York attorney general Letitia James under allegations that it had "defrauded" investors by exposing them to undue risk.
Genesis is a cryptocurrency intermediary for institutional investors, with Digital Currency Group (DCG) as its parent company. [1]Genesis operates several businesses, including Genesis Global Trading, Inc. ("GGT"), Genesis Global Capital, LLC ("GGC"), Genesis Asia Pacific Pte. Ltd. ("GAP"), GGC International Limited ("GGCI"), and Genesis Custody Limited ("Genesis Custody").
Amid the last bull cycle, Gemini, which had largely operated as an exchange, launched its ill-fated Earn program that allowed customers to lend out cryptocurrencies for a yield of up to 13%.
Cameron Howard Winklevoss (born August 21, 1981) is an American cryptocurrency investor, former Olympic rower, and cofounder of Winklevoss Capital Management and Gemini cryptocurrency exchange. He competed in the men's pair rowing event at the 2008 Summer Olympics with his rowing partner and identical twin brother, Tyler Winklevoss .
The Commodity Futures Trading Commission alleged Gemini employees misled the agency when the company was evaluating a potential Bitcoin futures contract.
Crypto lender Genesis Global has settled a U.S. Securities and Exchange Commission lawsuit over its defunct Gemini Earn lending program, agreeing to a $21 million fine that will be paid only if ...
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