Tag Archives: Gemini Earn

Gemini has entered into a $50 million settlement with the New York Attorney General’s Office as part of an agreement to offer restitution to its defrauded users who were unable to reclaim their assets deposited into the Gemini Earn program. This settlement brings the lawsuit from October 2023 to a satisfactory conclusion. Letitia James, the NY Attorney General, said in a press release, “Hundreds of thousands of people, including at least 29,000 New Yorkers, had their trust broken and their...

CoinspeakerBankrupt Crypto Lender Genesis Global Settles SEC Lawsuit in $21M The Settlement Agreement is the product of extensive negotiations between the SEC and Genesis Global. Also, the penalty payment will happen if Genesis completely repays its customers and creditors. Bankrupt Crypto Lender Genesis Global Settles SEC Lawsuit in $21M

The outcome of the SEC’s lawsuit against Gemini and Genesis is expected to have significant implications for the crypto industry and its evolving regulatory landscape. Gemini crypto exchange, and Genesis, an insolvent crypto lender, have jointly filed a motion in US federal court, seeking the dismissal of the complaint filed by the United States Securities and Exchange Commission (SEC) complaint against the Earn Program. The SEC alleges that the Earn Program, operated by both firms,...