Crypto exchange Gemini Trust agreed to pay $50 million to resolve claims brought by New York’s Attorney General accusing the company of defrauding investors. https://t.co/aRmjE3Ta0n
The NY Attorney General's office recovered over $50 million from Gemini for the Earn program investors. https://t.co/XYaGK5Assp
Gemini to pay $50 million to defrauded investors of the Gemini Earn program https://t.co/zraCf4UYaU
Crypto exchange Gemini Trust has agreed to pay $50 million to resolve claims brought by New York's Attorney General, Letitia James. The settlement addresses accusations of defrauding hundreds of thousands of investors through the company's Gemini Earn program. The recovered funds will be returned to investors affected by the program's collapse, which is part of a multi-firm bankruptcy proceeding. As part of the settlement, Gemini is prohibited from operating any crypto lending programs in New York. The final distributions, representing the remaining 3% of the digital assets owed to investors as of November 16, 2022, will be available in their Gemini accounts within seven days.
