The Gemini crypto exchange accused of lying to customers
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The aftermath of the FTX bankruptcy continues to create problems in the crypto sector, particularly for exchanges. Among the major ones to suffer the most seems to be Gemini. Gemini’s crypto Earn program Specifically, the problem for Gemini is its Earn program, which had already been suspended in the very aftermath of the FTX bankruptcy. This problem arose because of the suspension of Earn by Genesis Global Capital. 1/6 We are aware that Genesis Global Capital, LLC (Genesis) — the lending partner of the Earn program — has paused withdrawals and will not be able to meet customer redemptions within
Key Highlights The Securities and Exchange Commission officially dismisses its lawsuit against Gemini after investors recover 100% of crypto from Gemini Earn. Gemini contributed roughly $50 million in cryptocurrency alongside state and Genesis settlements to ensure full repayment. Dismissal allows Gemini to focus on institutional services, prediction markets, and Nasdaq…
Following a lot of legal back-and-forth jabber, the Winklevoss Twins of the Gemini exchange in New York are moving forward with their lawsuit against Barry Silbert and his company Digital Currency Group. The Twins allege that the firm and its CEO Silbert engaged in massive fraud. The Winklevoss Twins Are…