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"Gemini marketed its Earn program as a way for investors to grow their money, but actually lied and locked investors out of their accounts," James said. "Today's settlement will make defrauded ...
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%.
The sides have been beefing over how to help more than 300,000 Gemini Earn customers who have had their funds frozen since January. Now, Silbert's conglomerate DCG claims those customers will get ...
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.
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 ...
She claimed they caused more than $1 billion of losses by misleading investors about the Gemini Earn program, which let customers lend crypto assets to Genesis in exchange for a high rate of return.
NEW YORK (Reuters) -Bankrupt crypto lender Genesis and crypto exchange Gemini have returned over $2 billion in crypto to 232,000 retail customers in their jointly managed Gemini Earn program ...
"This attack on Earn Users is a new low, even for Genesis," Gemini said in a statement. Under the companies' operating agreements, Genesis borrowed crypto assets from Earn customers, re-invested ...